The Redwood Shores, Calif., company's purchase of Stellent for about USD$440 million, is designed to shore up its content management abilities, the enterprise networking giant said in a statement. Stellent boasts a list of 4,700 customers worldwide according to a news release provided by Oracle. Thomas Kurian, Oracle senior vice president, said the acquisition will help customers better manage the growing amount of data they must contend with. "The amount of electronic content, unstructured data and documents is growing very rapidly, and organisations are seeking advanced and automated content and process management solutions to manage this information to meet regulatory requirements," he said. Stellent now benefits from access to Oracle's huge distribution network, said Robert Olson, company president and CEO.
"Oracle's acquisition of Stellent will be a positive milestone for all of our stakeholders - shareholders, employees, customers and partners," he said. "Our leading product suite will have the dedicated resources and broad distribution network of the largest enterprise software company in the world, which will elevate our award winning solutions to new levels within the enterprise content management industry." Meanwhile, Oracle's purchase of SPL WorldGroup will expand the company's reach to companies looking for utilities and tax management solutions.
Oracle President Charles Phillips said in a company statement that the purchase brings publicly-owned utilities into his company's customer base.
"With the addition of SPL, Oracle plans to deliver the first end-to-end packaged revenue and operations management solution for investor-owned and public sector utilities," he said.
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Oracle buys Stellent, SPL WorldGroup
By Frank Washkuch on Nov 6, 2006 6:31PM