Oracle to Buy Retail Software Smarts
July 6, 2005[From internetnews.com] Oracle (Quote, Chart) agreed to acquire ProfitLogic, which makes a type of business intelligence software that gauges customer patterns to help retailers boost profits.
Financial terms of the deal were not made public but Boston-based ProfitLogic applications and 250 employees will be integrated into Retek's merchandise planning and optimization teams. Oracle expects to close the deal by the end of this month.
The deal should provide the third leg of a comprehensive retail tripod for Oracle, which outbid giant SAP (Quote, Chart) for retail applications maker Retek earlier this year and has long made its own database software for back-end systems.
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