Jan 31, 2006 (04:01 PM EST)
Oracle Seals Siebel Deal

Read the Original Article at InformationWeek

Oracle Corp. said Tuesday it closed on the acquisition of Siebel Systems Inc.

Oracle is now the undisputed leader in Customer Relationship Management software,” boasts Larry Ellison, Oracle chief executive officer, in a statement. "Oracle’s focus on modern, standards-based applications and middleware is moving us into a leadership position in applications and on-demand services. Siebel accelerates that move."

The news comes two days prior to an official announcement by its largest rival SAP AG. It's expected the German software company will launch a software-as-a-service (SaaS) CRM application on Thursday at media events in California and New York.

"Siebel’s expertise with industry-specific customer-facing applications combined with rich analytics will not only serve as the centerpiece of our CRM strategy for Oracle Fusion Applications, but can also be used to extend our current customers investments today,” said Oracle president Charles Phillips.

Oracle will host a conference call on Thursday, Feb. 9, at 2 p.m. PST.