Oracle and BEA Systems report that they have entered into a definitive agreement under which Oracle will acquire all outstanding shares of BEA for $19.375 per share in cash.
In a press release, Oracle CEO Larry Ellison, said, "The addition of BEA products and technology will significantly enhance and extend Oracle's Fusion middleware software suite. Oracle Fusion middleware has an open 'hot-pluggable' architecture that allows customers the option of coupling BEA's WebLogic Java Server to virtually all the components of the Fusion software suite. That's just one example of how customers can choose among Oracle and BEA middleware products, knowing that those products will gracefully interoperate and be supported for years to come."
The board of directors of BEA Systems has unanimously approved the transaction. It is anticipated to close by mid-2008, subject to BEA stockholder approval, certain regulatory approvals and customary closing conditions.