The bidding war for global retail business software company Retek between SAP and Oracle is continuing, with Oracle now going higher than SAP’s second offer.
Oracle has now offered $11.25 (£5.88) per Retek share after SAP increased its offer from $8.50 a share to $11 yesterday. After SAP’s initial bid, Oracle had offered $9.
With both bidders now seemingly determined to buy a big chunk of the US retail market Retek controls, SAP now has the choice of whether it goes higher.
Oracle chief executive Larry Ellison said, "Our North American applications business is larger than SAP's. We intend to defend our number one position.
“Customers have told us they want Oracle to buy Retek. Retek's applications are built on Oracle's technology platform. And Retek and Oracle share a vision of applications built using industry standards like Java, not proprietary programming languages like SAP's ABAP."
Retek provides an integrated retail application suite to more than 200 customers in more than 20 countries around the world.
SAP said the retail industry is entering a new phase of packaged software adoption, as retailers are increasingly considering IT as a strategic instrument to drive business growth.
SAP said the combination of Retek’s application portfolio, industry expertise and market presence will allow it to respond to this demand.