Oracle to buy PeopleSoft @ $10.3 bn

Oracle Corporation on Monday announced that it would buy PeopleSoft for about $10.3 billion in a deal approved by the boards of directors of both firms.

The announcement ends a bitter dispute over Oracle's hostile effort to take over PeopleSoft.

Meanwhile, Oracle reported a 32 per increase in net income at $815 million, or 16 cents per share, in the second quarter ended November 30, 2004 when compared with $617 million, or 12 cents a share, in the year-ago period.

The revenue was up 10 per cent to $2.76 billion from $2.5 billion.