Oracle to Pay $1 Bil. for E-Commerce Software Firm
By wchung | 15 Jul, 2026
Business software maker Oracle said Tuesday it has agreed to acquire e-commerce software maker Art Technology Group Inc. for $1 billion in cash.
ATG, which is based in Cambridge, Mass., works with customers like Best Buy and CVS to improve their websites and streamline online purchasing.
The purchase price of $6 per share is a 46 percent premium over Art Technology’s closing price on Monday. Art Technology shares rose $1.92 to $6.02 in pre-market trading.
The deal needs shareholder and regulatory approval. Oracle expects to complete the deal by early next year.
Oracle Corp. is based in Redwood Shores, Calif. Its shares rose 7 cents to $29.20 in pre-market trading.
NEW YORK (AP)
© 2026 by Asian Media Group Inc.
Recent Articles
- AI Startup Thinking Machines Launches an Open-Weight AI Model
- DeepSeek to Raise Fresh Capital at $74 Billion Valuation Ahead of IPO
- SpaceX's Slide Risks Turning Blockbuster IPO into Confidence Test
- ASML Capacity Upgrade Soothes AI Chip Bottleneck Fears
- US Producer Prices Fell in June on Lower Oil
- Buffett Says Epstein Ties Not Reason for Ending Donations to Gates Foundation
- Big VMware Price Increase Makes Broadcom Target of EU Probe Demand
- Intel Turns to Next-Gen ASML Tool to Help Make Its Laptop Chips
- Cambodian Gaming Tycoon Was Landlord to Chinese Scam Compound
- China New Home Price Slide Slows, but Recovery Doubtful