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Redwood Shores, Calif.—Nov 2, 2006
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.
Oracle (NASDAQ: ORCL) is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com.
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.
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.