Oracle Corp. announced today that it will acquire Concentra Corp. for about US$43 million [M] to provide Oracle with a powerful configurator engine for electronic commerce and sales automation applications.
Oracle will use Concentra's configurator engine technology, which allows users to customize complex quotes and orders when placing an order, in both its front office and manufacturing product lines. Concentra's flagship product, SellingPoint, will be available as a standalone product as well as integrated into Oracle Applications, the vendor said in a statement.
The two companies have signed a definitive agreement for Oracle to make a cash tender offer for all outstanding shares of Concentra at a price of $7 per share, the statement said. The closing of the deal is subject to Oracle acquiring at least a majority of Concentra's stock together with gaining regulatory approvals, and will be followed by a cash merger through which Oracle will become the sole stockholder of Concentra. The transaction should be closed towards the end of this year, the statement said.