Oracle to buy Siebel for $5.85 billion

In wake of big acquisitions, another big one was announced by Oracle corporation. In a press release Oracle has agreed to buy Siebel Systems in a deal worth $5.85 billion in cash and stock. Siebel has 4000 plus application customers and 3.4 million user strengths. With this acquisition Oracle becomes number 1 in CRM segment. For more information on this deal see the Oracle Press release here