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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Riskmgmt who wrote (8067)	8/21/1998 8:51:00 AM
From: Roy F	Read Replies (1) \| Respond to of 19080

Oracle Agrees to Acquire Versatility Inc., Leading Call Center Application and Technology Vendor Versatility to Round Out Oracle's Front Office Call Center Applications Suite August 21, 1998 08:30 AM REDWOOD SHORES, Calif., Aug. 21 /PRNewswire/ -- Oracle Corp. and Versatility Inc. today announced they have signed a definitive merger agreement for Oracle to acquire Versatility Inc., a leading vendor of computer telephony integration (CTI)-enabled customer interaction software. The acquisition will be effected through a cash merger pursuant to which holders of Versatility common stock will receive $1.50 per share or approximately $12 million in the aggregate. The parties anticipate closing the transaction by the end of the calendar year. Oracle's strategy is to deliver a call center solution that integrates the entire enterprise -- from front office to ERP. The Versatility acquisition brings a solid call center solution with outbound telesales and telemarketing functionality to complement Oracle's inbound service call center application. Versatility Series provides an integration point of CTI-enabled service, customer care and telephone sales applications for intelligent call routing, predictive dialing, third-party call control, coordinated call transfers and screen synchronization. Versatility also brings a strong customer base in the telecommunications and financial services sectors which are key targets for Oracle as well as experienced sales and professional service capabilities. "Versatility brings us a wealth of domain expertise and is well-known as a call center vendor," said Peter Dunning, senior vice president, applications at Oracle Corp. "This acquisition enhances our front office call center offering and continues our strategy of integrating powerful sales and marketing solutions with our ERP application suite, to provide Oracle Applications users with a complete 360-degree view of their customers." Oracle Corporation is the world's leading supplier of software for information management, and the world's second largest software company. With annual revenues of $7.1 billion, the company offers its database, application server, tools and application products, along with related consulting, education and support services, in more than 140 countries around the world. The consummation of the definitive agreement is subject to a number of conditions precedent, therefore, there can be no assurances that the transaction will be consummated. For more information about Oracle, please call 650/506-7000. Oracle's World Wide Web address is (URL) oracle.com. Trademarks Oracle is a registered trademark of Oracle Corporation. Oracle Applications is a trademark of Oracle Corp. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners. SOURCE Oracle Corp.