Oracle offers an acquisition deal to BEA Systems

Oracle offers an acquisition deal to BEA Systems

Oracle has announced an offer to buy rival company BEA Systems for a price of around USD 6.7 Billion.

This is their latest acquisition bid as they continue to expand their product portfolio to challenge SAP and IBM in the service industry market.

BEA Systems specializes in making middleware applications which helps companies run software applications run more smoothly on top of databases.

Their bid is around 25% above their existing stock price at the market.

William Klein, BEA’s vice president of business planning and development had earlier said on a lower bid by Oracle: “It is apparent to our board…that BEA is worth substantially more to Oracle, to others and, importantly, to our shareholders than the price indicated.”