Oracle acquires Art Technology Group to boost mobile transactions

Oracle Corp. (ORCL) is acquiring Art Technology Group Inc. (ARTG) for approximately $1 billion in an purely cash-for-stock deal.
Oracle plans to push further into mobile following the deal, particularly with ATG’s ability to create mobile commerce apps for business.
ATG made the announcement on the heels of its third-quarter results where it reported $4.2 million in net income on $50.3 million in revenue. The sale is subject to regulatory approval and is expected to close by early next year.
“Driven by the convergence of online and traditional commerce and the need to increase revenue and improve customer loyalty, organizations across many industries are looking for a unified commerce and CRM platform to provide a seamless experience across all commerce channels,” said Thomas Kurian, EVP at Oracle Development. “Bringing together the complementary technologies and products from Oracle and ATG will enable the delivery of next-generation, unified cross-channel commerce and CRM.”
Bob Burke, president and CEO at ATG, said the “combination will enhance the ability to bring all their commerce activities together – creating a more consistent and relevant experience for their customers across all interaction channels, including online, in stores, via mobile devices and with call centers.”