Oracle to buy eCommerce s/w company ATG for $1 bn

NEW YORK, USA: Oracle Corp said on Tuesday it will buy e-commerce software maker Art Technology Group Inc for $1 billion, or $6.00 a share.

Oracle's offer for ATG represents a 46 per cent premium to ATG's close of $4.10 on Nasdaq. The deal is subject to shareholder approval and is expected to close in early 2011.

More than 1,000 companies use ATG software to help with online customer transactions on mobile devices and in stores.

ATG creates software for customers to buy items online. Its customers include Best Buy Co Inc, AT&T and Vodafone Group Plc.

ATG, which is based in Cambridge Massachusetts, had sales of $50.3 million in the third quarter of 2010, up 16 percent from $43.4 million a year earlier.