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Oracle To Buy Art Technology Group For $1 Billion

Oracle is set to pay around $1 billion to acquire e-commerce software maker Art Technology Group (ATG).

The deal will see Oracle paying $6 per share in ATG and is expected to be concluded in early 2011 provided it gains shareholder and regulatory approval, tech news site Cnet reports.

Oracle plans to integrate ATG's technology with its own extensive portfolio of CRM, ERP, retail, and supply chain applications. The company also highlighted ATG's on-demand commerce optimisation tools, that Oracle will be able to use to create a state-of-the-art online retail environment.

ATG currently has over 1,000 global firms as customers, including AT&T, Vodafone and BestBuy, the company's president and CEO Bob Burke said in a statement.

“This combination will enhance the ability to bring all their commerce activities together--creating a more consistent and relevant experience for their customers across all interaction channels, including online, in stores, via mobile devices and with call centres,” he added.