PeopleSoft Relents, Agrees to Oracle Acquisition
December 14, 2004 Alex Woodie
After a bitter 18-month battle, PeopleSoft‘s board of directors agreed today to be acquired by Oracle for $26.50 per share, or $10.3 billion. While the agreement will end an extremely unpleasant period for the companies and their customers, it raises new questions about the future of some of PeopleSoft’s products, particularly the World ERP line, which runs only on IBM iSeries servers and is heavily relied upon by thousands of companies across the world.
The merger agreement has been approved by the boards of directors of both companies and should close by early January. As part of the deal,