Oracle Announces Acquisition of Retek SAP Drops Out of Bidding



    REDWOOD SHORES, Calif., March 22 /PRNewswire-FirstCall/ -- Oracle
 Corporation (Nasdaq:   ORCL) and Retek Inc. (Nasdaq:   RETK) announced that they
 have signed a definitive merger agreement under which Oracle will acquire
 Retek at a price of $11.25 for each outstanding Retek share.  SAP has dropped
 out of the bidding.
     (Logo:  http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO )
     "Oracle has the largest applications business in North America, and we
 intend to expand that leadership position," said Oracle CEO Larry Ellison.
 "Combining Oracle with Retek is an important step in that direction, and it
 strengthens our position in the retail applications market globally."
     "Most Retek customers already run Oracle's financial and human resources
 applications, so Oracle buying Retek is a perfect fit for the retail
 industry," said Retek customer and Best Buy CIO, Bob Willet.
     "We believe that Oracle's offer is a good deal for Retek stockholders, and
 all directors in attendance at our board meeting have recommended that it be
 accepted," said Marty Leestma, President and Chief Executive Officer of Retek.
 "We will work with Oracle over the next several weeks to ensure that the
 integration is not disruptive for our clients and employees."
     Oracle and Retek have enjoyed a strong partnership since Retek was founded
 in 1986.  Retek's products have been developed on Oracle's technology platform
 using Oracle's development tools.  Nearly 80 percent of Retek's customers run
 their Retek applications on the Oracle database.
 
     Oracle is the world's largest enterprise software company.  For more
 information about Oracle, including supplemental financial information, please
 call Investor Relations at 650-506-4073 or visit Oracle on the web at
 www.oracle.com/investor.
 
     THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER
 TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SHARES. THE SOLICITATION
 AND THE OFFER TO BUY RETEK'S COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN
 OFFER TO PURCHASE AND RELATED MATERIALS THAT ORACLE CORPORATION FILED ON MARCH
 9, 2005, AS AMENDED. STOCKHOLDERS SHOULD READ THESE MATERIALS CAREFULLY
 BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS
 OF THE OFFER. STOCKHOLDERS MAY OBTAIN THE OFFER TO PURCHASE AND RELATED
 MATERIALS WITH RESPECT TO THE TENDER OFFER FREE AT THE SEC'S WEBSITE AT
 WWW.SEC.GOV OR FROM ORACLE CORPORATION.
 
 

SOURCE Oracle Corporation
RELATED LINKS
http://www.oracle.com

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