Oracle to acquire Portal Software for $220 million

Oracle to acquire Portal Software for $220 million

Database software developers Oracle have announced their plans to acquire Portal Software Inc. . This deal is worth around $220 million and would be conducted through a cash only transaction.

Oracle aims at expanding their product and services portfolio with this acquisition and is expecting to boost sales through this recent spate of acquisitions. This deal values the newest Oracle acquisition at around $4.90 a share, which is a 17 percent premium to Portal Software’s Tuesday’s closing price of $4.19. This announcement also saw the company’s share gaining 16 percent in the market.

Oracle has already acquired companies with deals valued at an estimated $19 billion. This includes some big names like PeopleSoft and Siebel Systems. They have now said that similar deals in the future would be on a smaller scale and they would be focusing on specialized products designed for specific industries.