ATG, a provider of e-commerce software and related on-demand commerce optimization applications, announced this morning that it has agreed to be acquired by Oracle for $ 6 per share in cash, or about $ 1 billion.
Oracle’s offer on ATG represents a 46% premium over its closing price of $ 4.10 on NASDAQ.
ATG’s e-commerce software platform is complementary to Oracle’s CRM, ERP, retail and supply chain applications, as well as its portfolio of middleware and business intelligence technologies, said the company in a press release. declaration.
The company’s cross-channel commerce solution helps customers drive sales through a personalized customer experience, unifying interactions across the web, contact center, mobile devices, social media, physical stores and other key channels. ATG says more than 1,000 global companies trust its solutions to increase the value of their interactions with their customers online.
ATG’s third quarter 2010 revenue was $ 50.3 million, an increase of 16% over third quarter 2009 revenue of $ 43.4 million. GAAP net income for the third quarter of 2010 was $ 4.2 million, or $ 0.03 per diluted share, compared to net income of $ 4 million or $ 0.03 per diluted share in the third quarter from 2009.
The transaction is subject to shareholder and regulatory approval as well as other customary closing conditions and is expected to close in early 2011.