(Pink Sheets:PRSF), HOT HOT HOT...
Portal Software to Be Acquired by Oracle Corporation; Combination to Deliver the First End-to-End Packaged Software Suite for the Communications Industry
CUPERTINO, Calif.--(Business Wire)--April 12, 2006--
Portal Software, Inc. (Pink Sheets:PRSF), the premier
global provider of billing and Revenue Management solutions for
telecommunications and media markets, today announced that it will be
acquired by Oracle Corporation (Nasdaq:ORCL) through a cash tender
offer for $4.90 per share, or approximately $220 million.
"This is exactly the kind of combination our customers have been
asking for," said Portal's Founder and CEO, Dave Labuda. "Bringing
together Oracle's leading ERP, CRM and infrastructure software with
Portal's global billing and revenue management into an integrated
solution is a huge win for our customers."
Portal's management and employees will form a dedicated global
communications business unit within Oracle concentrating on billing
and revenue management. Bhaskar Gorti, Portal's current SVP of
worldwide sales, services and marketing, will lead the unit as General
Manager, and Dave Labuda will become the unit's CTO.
"The combination of Oracle and Portal delivers the first
end-to-end packaged enterprise software suite for the communications
industry," said Oracle's President Charles Phillips. "We supply
technology and applications to over 90% of communications companies
worldwide today, and billing is a logical and complementary addition
for those customers."
Oracle has had a long commitment to the communications industry.
17 of the top 20 most profitable communications companies run Oracle
Applications. Additionally Oracle's Siebel Telecom applications have
become the standard for telco call centers and customer care.
Portal offers the only billing and revenue management solution
with a modern, object-oriented architecture built on Oracle that can
bill and manage all communications services including wireline,
wireless, broadband, cable, voice over IP, IPTV, music, and video. As
communications, publishing, media, and entertainment services
converge, Oracle can support companies with a proven offering for
billing, customer interaction, and management of digital services and
content.
Portal Software
Kevin Payne, 408-572-3614
kpayne@portal.com
or
Oracle Corporation
Carol Sato, 650-633-5551
carol.sato@oracle.com
Copyright Business Wire 2006
12Apr06 12:05 GMT
Symbols:
de;ORC de;ORCF de;ORCS de;ORCX de;PTW de;PTWF de;PTWS de;PTWX gb;ORL
us;ORCL us;PRSF
Source BW Business Wire
AI
