Peoplesoft finally agreed to be acquired by Oracle after 18 months of battle.

The deal cost cost Oracle $10.3 billion (or $26.50 in cash for each PeopleSoft share). The merger also continues the consolidation of the business software market that started last year when PeopleSoft snatched up JD Edwards.

By picking up 12,750 PeopleSoft customers and nearly $3 billion in annual revenue, Oracle hopes to mount a more serious challenge to German software maker SAP's leadership in business applications software.

By: DocMemory
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