CUPERTINO, Calif. -- Portal Software, Inc. (Pink Sheets:PRSF - News), the premier global provider of billing and Revenue Management solutions for telecommunications and media markets, today announced that it will be acquired by Oracle Corporation (Nasdaq:ORCL - News) through a cash tender offer for $4.90 per share, or approximately $220 million.
"This is exactly the kind of combination our customers have been asking for," said Portal's Founder and CEO, Dave Labuda. "Bringing together Oracle's leading ERP, CRM and infrastructure software with Portal's global billing and revenue management into an integrated solution is a huge win for our customers."
Portal's management and employees will form a dedicated global communications business unit within Oracle concentrating on billing and revenue management. Bhaskar Gorti, Portal's current SVP of worldwide sales, services and marketing, will lead the unit as General Manager, and Dave Labuda will become the unit's CTO.
"The combination of Oracle and Portal delivers the first end-to-end packaged enterprise software suite for the communications industry," said Oracle's President Charles Phillips. "We supply technology and applications to over 90% of communications companies worldwide today, and billing is a logical and complementary addition for those customers."