Word: peoplesoft
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...Ellison? The Oracle chief, 58, can't deny he's having fun. "I love flying planes and racing boats," he says. "This is more challenging." But at the same time, he insists, he is deadly earnest about PeopleSoft--and adds that other similar offers may be on the way. "The industry went a little mad over information technology; now we have to adjust," Ellison says. "Companies are going to get gobbled up, absolutely...
Even assuming PeopleSoft fends off his offer, Ellison may yet have the last laugh. This is the era of consolidation in computerland. Companies like IBM, Microsoft, Yahoo and USA Interactive have spent billions of dollars snapping up smaller competitors. Others, like Palm and Handspring, have tried to stave off the hungry advances of these giants by merging. Now it's the turn of Ellison's realm, the complex world of business software, to go through some serious cyclical slimming. The outcome will be crucial to owners of widely held tech stocks and people who use their products, which includes just...
...Meanwhile, Microsoft was making inroads into the database business with its fast-growing SQL Server software. And SAP just kept getting larger. Its share of the market for enterprise applications has grown from 51% to 54% in the past year alone. By contrast, Oracle has a 15% share and PeopleSoft...
Ironically enough, it was PeopleSoft's Conway who first suggested to Ellison last year that the applications side of their businesses should merge. The discussions were cordial--hard to imagine after a week in which Conway compared Ellison to Genghis Khan--and the two companies exchanged fact-finding teams. The sticking point: who would run the joint business. "He said, 'I'm your man,'" says Ellison. "Conway didn't see a single antitrust problem then." (Conway does not dispute this account of the meeting but points out that discussions were over in a matter of hours.) After negotiations broke down...
After his fruitless talks with Ellison, Conway kept looking for a partner, and found it in J.D. Edwards. Their businesses were widely regarded as complementary. PeopleSoft tended to sell to high-end firms, J.D. Edwards to the middle market. Four days later, Ellison announced his competing bid for PeopleSoft. Coincidence? Conway thinks not. "If we were ever looking for confirmation that the J.D. Edwards merger was right for the industry," he says, "Larry provided...