<br><br>Oracle Assumes Control of PeopleSoft<...res January 4th<br><br>REDWOOD SHORES, Calif., December 29, 2004 - Oracle Corporation (NASDAQ: ORCL) today announced that PeopleSoft (NASDAQ: PSFT) stockholders have tendered approximately 75 percent of PeopleSoft outstanding stock, giving Oracle control of the company.<br><br>Additionally, Oracle has designated four representatives to serve on PeopleSoft's board of directors, replacing the PeopleSoft board members who have resigned and giving Oracle majority board representation. Two of the previous PeopleSoft board members will remain on the PeopleSoft board until the merger between the companies is completed.<br><br><br><br>----<br>:)
---- :) "In my experience, there's no such thing as luck." - Obi-Wan Kenobi
Loc: Los Angeles, CA
This is something good for everybody. PeopleSoft stockholders, their customers, their employees. Their merger with JDEdwards had left more dead projects in their wake, and PeopleTools was not going anywhere in the face of open standards and platforms.<br><br>Disclaimer - I am affiliated with Oracle. :)<br><br>--<br>http://www.stevenkimband.com/
<blockquote><font size=1>In reply to:</font><hr><p> This is something good for everybody. PeopleSoft stockholders, their customers, their employees. Their merger with JDEdwards had left more dead projects in their wake, and PeopleTools was not going anywhere in the face of open standards and platforms.<br><br>Disclaimer - I am affiliated with Oracle. :)<p><hr></blockquote><p><br>I know some PeopleSoft people who definitely disagree with that. Looks like Larry Ellison succeeded in getting rid of his competition. <br><br>No disclaimer - not associated with Oracle or PeopleSoft.<br><br>Chris <br><br><br><br><br>Light-Imagery<br><br>
Loc: Los Angeles, CA
No employee wants to be slurped into a larger company they didn't sign up for in the first place. I'm sure many PeopleSoft employees were disagreeable with the acquisition, but considering PSFT was not in a strong position, when the company flourishes, its employees flourish in many aspects. So I think emotional distaste aside it's simply an objective observation that former PSFT employees are in a stronger position. Ask them again in a year what they say.<br><br>Now I will concede if it were, say, Apple being acquired by Microsoft, I can understand the radical difference in corporate culture, etc. But for this case specifically, going to PeopleSoft to Oracle would be a move I would welcome. But that's just me I guess.<br><br>Steven<br><br>--<br>http://www.stevenkimband.com/
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