PeopleSoft completes JD Edwards acquisition

PeopleSoft has completed the takeover of JD Edwards with the acquisition of 88% of the company’s shares. PeopleSoft should acquire the remaining shares before the end of August 2003.

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By  Matthew Southwell Published  July 22, 2003

PeopleSoft has completed the takeover of its fellow enterprise resource planning (ERP) software provider, JD Edwards, with the acquisition of 88% of the company’s shares. PeopleSoft should acquire the remaining shares before the end of August 2003.

“Today marks an important milestone in the history of PeopleSoft,” said PeopleSoft president & CEO, Craig Conway. “The powerful combination of PeopleSoft and J.D. Edwards creates the second largest enterprise applications software company in the world. The combination expands not only our customer base, product offerings and markets, but also our talent.”

“The combination of JD Edwards and PeopleSoft is the culmination of the JD Edwards strategic plan to create significant value for all of our stakeholders… With the resources of the combined company, we will continue to make our customers stronger and solve their most pressing business problems,” added JD Edwards chairman, president & CEO, Bob Dutkowsky.

The share purchase comes at the end of a torrid affair that has seen Oracle try to disrupt the acquisition through its hostile takeover of PeopleSoft. Whether the bid will proceed now that PeopleSoft has successfully purchased JD Edwards remains to be seen, as local Oracle spokespeople were unable to comment at the time of posting.

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