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Oracle Buys Rival PeopleSoft


Oracle, a major maker of business software, says it is buying rival PeopleSoft for $10.3 billion.

Oracle ended a bitter 18-month takeover battle by increasing its offer to $26.50 per share of PeopleSoft.

Monday's announcement also says the two sides have agreed to end various lawsuits against each other.

The combined company is expected to become the number two business software firm, behind Germany's SAP.

Business software handles databases and other tasks like human resources and accounting.

Some information for this report provided by AFP, AP and Reuters.

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