Oracle has agreed to buy e-commerce company Art Technology Group for about $1 billion in a move designed to expand the range of services the business software giant can offer its customers.
According to an announcement on Tuesday, Oracle said it will pay $6 a share for the company, which counts among its clients Best Buy, AT&T and Continental Airlines.
The price represents a 46 per-cent premium to Art Technology’s share price prior to the announcement of the deal.
The deal came as Oracle and its rivals like HP and IBM have intensified their acquisitions as they seek to offer a complete range of technology services to their customers.
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