Oracle extends offer for Portal Software

By Mark Brunelli, News Editor 08 Jun 2006 | SearchOracle.com

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Oracle has extended its tender offer for Portal Software Inc. for the second time in two weeks.

The previous tender offer for the billing and revenue management software provider expired Tuesday at midnight. The new offer expires June 20.

Oracle said that about 23.2 million shares have already been tendered, but over 24.6 million are needed to close the deal.

More on this topic: Oracle to buy Demantra Oracle acquires SiteWorks solutions

Portal Software says its software platform allows users in global communications and media markets to manage revenue across sales channels and geographies.

Oracle has acquired a slew of companies in recent years, including customer relationship management giants PeopleSoft Corp. and Siebel Systems Inc. Oracle first announced its intention to purchase Portal Software back in April.

Last week, Oracle announced plans to purchase Demantra, a Waltham, Mass.-based developer of supply chain software.

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