BEA says "no way" to USD 6.66bn Oracle offer

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The Oracle/BEA acquisition (opens in new tab) seems to be doomed after the middleware company said that the money offered was substantially less than what the company and its shareholders expected.

Oracle offered a 25% premium on BEA stock value on the 11th of October.

Since Oracle went public with its acquisition plan, BEA stocks went up by nearly 40%, which effectively added USD 800 million overnight to the company's value. (opens in new tab)

Analysts (opens in new tab) though say that a BEA purchase is a matter of "when", rather than "whether" because of the marked increase in competition in the sector.

Had BEA agreed to Oracle's offer, it would have been Oracle largest purchase since the acquisition of Peoplesoft (opens in new tab) for USD 10.3bn back in December 2004.

During the past two years, Oracle has added Siebel Systems and Hyperion Solutions to its portfolio.

Désiré Athow
Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.