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Oracle to launch combined company today

Oracle is launching its new applications division today with an event at its corporate headquarters where executives will lay out how they are combining staff and product lines from newly acquired PeopleSoft Inc.

Oracle Corp. CEO Larry Ellison and other top executives will address customers and the media today, laying out how the company is merging newly acquired PeopleSoft Inc. into its applications division.

To assure customers that it is conducting a smooth transition, Oracle's executive management team is making the announcement during a three-hour session at its Redwood Shores, Calif.-based headquarters office. PeopleSoft's board agreed to a $10.3 billion takeover offer in December after an 18-month fight to avert a takeover.

Oracle will have the resources to deliver on the development and support commitments we have made to PeopleSoft customers over the last 18 months.
Larry EllisonCEO, Oracle Corp.

The event will take place today from 9:30 a.m. to 1 p.m. PST, and a webcast will be available to the public at Oracle's events Web page.

Oracle has pledged its support for PeopleSoft products, adding that it would roll out the next planned versions of PeopleSoft's Enterprise One and World applications suites. The company laid off thousands of PeopleSoft employees last week, but Oracle said PeopleSoft developers would be retained to help build a new product.

"By retaining the vast majority of PeopleSoft technical staff, Oracle will have the resources to deliver on the development and support commitments we have made to PeopleSoft customers over the last 18 months," said Ellison said in a prepared statement this week.

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During today's event, Oracle co-presidents Safra Catz and Charles E. Phillips Jr., will explain the company's strategy, competitive strength and customer commitment, as PeopleSoft's products are added to Oracle's application software offerings.

John Wookey, Oracle's senior vice president, who is expected to lead the company's overhauled applications division, will address the organization and management and discuss the various product lines that will be supported. He will also present a development road map and explain Oracle's customer support services for PeopleSoft users.

Executives will also address Oracle's outsourcing services, called On Demand, and whether the company's partners and resellers can expect any changes with the new PeopleSoft products.

Ellison will end the session with a question-and-answer session with customers in attendance.

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