Oracle Buys Siebel

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The 800 lb Gorilla of database software Oracle, announced it's buying software maker Siebel for 3.61 billion dollars.

In a single step, Oracle becomes the No. 1 CRM applications company in the world," said Oracle Chief Executive Larry Ellison. Siebel's 4,000 applications customers and 3.4 million CRM users, he said, would strengthen Oracle's position in business applications in North America and move it closer to top position in applications globally.