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REDWOOD SHORES, Calif.,
02-NOV-2006 01:45 PM
Oracle today announced that it has agreed
to acquire Stellent, Inc. (NASDAQ: STEL), a global provider of enterprise content management
(ECM) software solutions, through a cash tender offer for $13.50 per share, or approximately
$440 million.
With Stellent Universal Content Management, customers can easily deploy multiple line-of-
business applications -- such as public Web sites, secure intranets and extranets, compliance
processes, and marketing brand management -- and also scale the technology to support multi-site
management and enterprise-wide content management needs. The acquisition of Stellent will
complement and extend Oracle's existing content management solution portfolio. Oracle Content
Database enables enterprises to store and centrally manage unstructured content in Oracle
Databases. Stellent's Universal Content Management solution works with Oracle Content
Database and offers a variety of best-of-breed solutions for Document Management, Web
Content Management, Information Rights Management, Digital Asset Management, Records and
Retention Management, Imaging, and Governance, Risk, and Compliance.
More than 4,700 customers worldwide -- including Procter & Gamble, Merrill Lynch, Los
Angeles County, The Home Depot, British Red Cross, ING, Vodafone, Georgia Pacific, Bayer
Corp., and Genzyme Corp. -- have selected Stellent solutions to power their content-centric
business applications. Stellent has broad partnerships and is widely adopted by a number of
leading system integrators and resellers. Stellent is also seen as an industry leader by a variety of
industry analysts and won a number of awards from independent technology publications.
"The amount of electronic content, unstructured data, and documents is growing very rapidly and
organizations are seeking advanced and automated content and process management solutions to
manage this information to meet regulatory requirements," said Oracle Senior Vice President,
Thomas Kurian. "Stellent's enterprise content management solutions enable a variety of people
within an organization to create, capture, store, manage, publish, view, search, and archive all
types of documents across their entire lifecycle."
"Oracle's acquisition of Stellent will be a positive milestone for all of our stakeholders --
shareholders, employees, customers and partners," said Stellent President and Chief Executive
Officer, Robert Olson. "Our leading product suite will have the dedicated resources and broad
distribution networks of the largest enterprise software company in the world, which will elevate
our award-winning solutions to new levels within the enterprise content management industry."
The transaction is subject to customary conditions and is expected to close by the end of the year
or early 2007. More information is available at http://www.oracle.com/stellent.
Oracle will host a media conference call on Monday, November 13, 2006, to outline its enterprise
content management strategy.
About Oracle
Oracle (NASDAQ: ORCL) is the world's largest enterprise software company. More
information about Oracle can be found on the web at www.oracle.com.
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Trademarks
Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates. Other
names may be trademarks of their respective owners.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO BUY OR THE
SOLICITATION OF AN OFFER TO SELL ANY SECURITIES. THE SOLICITATION AND THE OFFER TO BUY SHARES OF
STELLENT'S COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND RELATED
MATERIALS THAT ORACLE INTENDS TO FILE WITH THE SECURITIES AND EXCHANGE COMMISSION. ONCE FILED,
STELLENT SHAREHOLDERS SHOULD READ THESE MATERIALS CAREFULLY PRIOR TO MAKING ANY DECISIONS
WITH RESPECT TO THE OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS
AND CONDITIONS OF THE OFFER. ONCE FILED, STELLENT STOCKHOLDERS WILL BE ABLE TO OBTAIN THE OFFER
TO PURCHASE AND RELATED MATERIALS WITH RESPECT TO THE OFFER FREE AT THE SEC'S WEBSITE AT
WWW.SEC.GOV, FROM THE INFORMATION AGENT NAMED IN THE TENDER OFFER MATERIALS OR FROM ORACLE.
Cautionary Statement Regarding Forward-Looking Statements
This document contains forward-looking statements that are made pursuant to the Safe Harbor Provisions
of the Private Securities Litigation Reform Act of 1995, particularly, those statements regarding the effects
of the proposed merger, and those preceded by, followed by or that otherwise include the words "believes,"
"expects," "anticipates," "intends," "estimates," or similar expressions. Forward-looking statements
relating to expectations about future results or events are based upon information available to Oracle and
Stellent as of today's date, and Oracle does not assume any obligations to update any of these statements.
The forward-looking statements are not guarantees of the future performance of Oracle, Stellent or the
combined company and actual results may vary materially from the results and expectations expressed in,
or implied by, these forward-looking statements. For instance, while Oracle and Stellent have signed an
agreement for the proposed offer and merger, there is no assurance that they will successfully complete
either the offer or the proposed merger. In the event the companies do not receive government approvals or
any other conditions to closing are not satisfied, the merger agreement will terminate.
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