Press Release: Commission clears Oracle’s takeover bid for PeopleSoft

The European Commission on 26 October 2004 granted approval for Oracle Corp's proposed acquisition of PeopleSoft Inc, two rival makers of software applications for businesses. After a detailed probe, the Commission concluded that there was an absence of sufficient evidence of competitive harm especially in view of the fact that large and complex companies (often with multinational activities) that use the software to automate their financial management systems and their human resource processes have other suppliers to serve their needs beside Oracle, PeopleSoft and SAP AG.