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Retek customers include Abercrombie & Fitch, Bhs, Gap, New Look, Dixons, FNAC, Ingram Micro and the US Postal Service.
"Oracle has the largest applications business in North America, and we intend to expand that leadership position," said Oracle chief executive Larry Ellison.
Retek user and Best Buy chief information officer Bob Willet said, "Most Retek customers already run Oracle's financial and human resources applications, so Oracle buying Retek is a perfect fit for the retail industry."
Analyst group AMR Research said, "Oracle's infusion of needed resources should be viewed as a positive. However, Oracle has been distracted with Project Fusion [the PeopleSoft integration], and it is vital that retailers get a clear picture of Oracle's strategy for them immediately."