Oracle to buy GoldenGate software
Oracle has planned to buy privately held GoldenGate software, beefing up its portfolio of technology that helps companies manipulate information in databases. The companies did not disclose financial terms of the transaction.
Hasan Rizvi, Senior Vice President, Oracle's Fusion Middleware Product Development said, "The combination of GoldenGate and Oracle is expected to create a comprehensive heterogeneous data integration platform. Oracle spent more than $34 billion buying about three dozen companies over the past five years. The company did not release the terms of small transactions. Oracle spent up to $1.2 billion for such deals in its most recent fiscal year. The company is also getting ready to close its $7.4 billion acquisition of hardware maker Sun Microsystems, pending antitrust approval by regulators in the U.S. and Europe.
San Francisco based GoldenGate offers several products, including software that helps businesses analyze large quantities of information in databases and programs that help banks detect fraudulent activities. Rizvi said, "With the addition of GoldenGate, we expect to help our customers achieve better performance through improved business intelligence and business continuity with real-time information."
GoldenGate and Oracle, which have been partners for more than a decade, will continue to operate independently until the deal closes. GoldenGate has more than 500 customers, including Bank of America, Comcast, MGM Mirage and Visa. Shares of Redwood city, California based Oracle rose 2.5 percent to $22.31, in line with a gain in the Nasdaq Composite Index.
Hasan Rizvi, Senior Vice President, Oracle's Fusion Middleware Product Development said, "The combination of GoldenGate and Oracle is expected to create a comprehensive heterogeneous data integration platform. Oracle spent more than $34 billion buying about three dozen companies over the past five years. The company did not release the terms of small transactions. Oracle spent up to $1.2 billion for such deals in its most recent fiscal year. The company is also getting ready to close its $7.4 billion acquisition of hardware maker Sun Microsystems, pending antitrust approval by regulators in the U.S. and Europe.
San Francisco based GoldenGate offers several products, including software that helps businesses analyze large quantities of information in databases and programs that help banks detect fraudulent activities. Rizvi said, "With the addition of GoldenGate, we expect to help our customers achieve better performance through improved business intelligence and business continuity with real-time information."
GoldenGate and Oracle, which have been partners for more than a decade, will continue to operate independently until the deal closes. GoldenGate has more than 500 customers, including Bank of America, Comcast, MGM Mirage and Visa. Shares of Redwood city, California based Oracle rose 2.5 percent to $22.31, in line with a gain in the Nasdaq Composite Index.
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