Oracle's long rumored interest in Siebel is no longer a rumor. Oracle announced they are going to scoop up Siebel for 5.85 billion. Siebel has been losing market share to upstarts like Salesforce.com.
Salesforce has been trending sharply upward in recent trading. Frustrating investors Siebel has been stagnant at best. Mark Benoit, Salesforce CEO holds no punches when speaking about the recent deal:
Oracle put Siebel investors out of their misery today. We have been doing that for Siebel customers for years. Client/Server software is being consolidated by Oracle just as mainframe software was consolidated by Computer Associates. Oracle's strategy is simple. Instead of innovating, buy as much installed software as possible, call it all Oracle Fusion, and make sure it all uses Oracle's database. Now, the same thing that happened to PeopleSoft will happen to Siebel, it will die.
Read what other CRM competitors had to say about the recent transaction.
