Oracle has extended a tender offer for all the shares of Portal Software, its second extension of its bid for the company in two weeks. The last offer expired at midnight Tuesday. The revised offer runs through June 20.
Oracle in April offered to pay $220 million in cash, or $4.90 a share, for Portal, which provides billing and revenue management software to communications and media companies.
Portal, once a multi-billion dollar hi-flying tech company has struggled over the last couple of years, since their founder fought with their ex-CEO and ousted him. A similar fate buckled i2 as well, proving how challenging it can be when techie founders of software companies bring in big company managers to help them expand and develop their business.
For Oracle the move is a sensible torjan horse into the Internet infrastructure layer within telecom and media companies, for Portal provides software which enables both to better manage billing and revenue generating services at high volume websites.
This could become a valuable application to drive more database and application server licenses into the telco/media space. Yet again, Oracle's M&A drive never quite ends...