Oracle acquires BEA Systems for $8.5 billion

By Lisa Kerner

Charlotte, N.C., April 29 - Oracle Corp. acquired BEA Systems, Inc. following the European Commission's approval of the transaction.

Oracle agreed to acquire BEA Systems for $19.375 cash per share in a deal valued at about $8.5 billion, or $7.2 billion net of BEA Systems' cash on hand, it was previously reported.

"The addition of BEA will accelerate innovation by bringing together two companies with a common vision of a modern service-oriented architecture (SOA) infrastructure," Oracle president Charles Phillips said in a company news release.

"Together, Oracle and BEA will provide a series of complementary and well-engineered middleware products, allowing customers to more easily build, deploy, and manage applications in a secure environment," Phillips added.

BEA Systems is based in San Jose, Calif., and makes enterprise application and service infrastructure software.

Oracle is a Redwood City, Calif.-based enterprise software company.

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