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SAN FRANCISCO, May 15 (Reuters) - Oracle Corp. ORCL.O agreed on Tuesday to pay about $495 million in cash, or $8.10 per share, for Agile Software Corp. AGIL.O, marking the latest acquisition as the company sets its sights on German rival SAP AG SAPG.DE.
The deal, expected to close in July 2007, represents a 14 percent premium over Agile’s closing share price of $7.08 on Tuesday and gives a stronger foothold in the market for software that helps companies deal with regulatory compliance.
The deal marks the latest in a steady stream of takeovers for Oracle as it seeks to surpass SAP in the market for business software that help companies manage everything from human resources to accounting to supply chains.
Oracle has spent more than $20 billion over the past two years on acquisitions of companies such as Siebel and PeopleSoft in search of growth as its core database software market matures. Oracle is the world’s biggest database software maker and generates most of its revenue from those products.
(Additional reporting by Saumyadeb Chakrabarty in Bangalore)
((Reporting by Michael Kahn; editing by Leslie Gevirtz; Reuters Messaging: rm://firstname.lastname@example.org; e-mail: email@example.com; Tel: +1 415-677-2511)) Keywords: ORACLE AGILE/
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