Davis Polk & Wardwell LLP is advising Oracle Corporation on its acquisition of Art Technology Group, Inc., a leading provider of cross-channel commerce solutions. Oracle is the world’s largest enterprise software company.
According to the terms of the transaction, ATG stockholders will receive $6 per share in cash, for a transaction value of approximately $1 billion. The transaction is subject to customary closing conditions, including approval by ATG stockholders and antitrust clearance.
The Davis Polk corporate team includes partners Julia K. Cowles and William M. Kelly and associates Stephen Salmon, Zhimin Lin and Jeffrey C. Lau (not yet admitted). Partner Rachel D. Kleinberg and associate M. Ryan LaRosa are providing tax advice. Counsel Cynthia Akard is providing employment advice. All members of the Davis Polk team are based in the Menlo Park office.