Oracle Get Suckered er Snaps Up Siebel Systems for Over $5 Billion

By Alice Hill
RealTechNews.com

If you thought the eBay deal was a waste of cash, try this one:

Oracle today snapped up ailing Siebel Systems paying $3.6 Billion of its out-moded CRM software.

“In a single step,” said Oracle CEO Larry Ellison, Oracle becomes the No. 1 CRM applications company in the world,” said CEO Larry Ellison. Siebel’s 4,000 applications customers and 3.4 million CRM users, he said, would strengthen Oracle’s No.l 1 position in applications in North America and move it closer to top position in applications globally.

“Larry, you and I worked together for nine years, and that was enough.”
– Tom Siebel, October 2004