A Bear's Face on Mars Blake Lively's New Role Recognizing a Stroke Data Privacy Day Easy Chocolate Cake Recipe Peacock Discount Dead Space Remake Mental Health Exercises
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Oracle closes Retek purchase

The move comes after Oracle acquired 94 percent of Retek shares.

Oracle said late Monday that it has closed its deal to acquire Minneapolis-based retail software maker Retek. The move comes after the company acquired 94 percent of Retek shares. Oracle said that Retek will operate as a separate retail business unit within the company.

In order to acquire Retek, Oracle had to win a bidding war with Germany's SAP, which had first announced plans to buy Retek at the end of February. In March, Oracle submitted a higher bid; SAP raised its bid once, but then said it would drop out of the running.