James Niccolai and Martyn Williams

Oracle Corp. last month won the bidding war against German software rival SAP AG to acquire retail management software developer Retek Inc. Oracle and Retek have signed a definitive merger agreement that will see Oracle acquire the Minneapolis company for US$630 million. SAP confirmed separately that it has dropped out of the bidding, saying it chose to exercise

Oracle Corp. has won its bidding war against German software rival SAP AG to acquire retail management software developer Retek Inc., Oracle said on Tuesday. Oracle and Retek have signed a definitive merger agreement that will see Oracle acquire the Minneapolis company for US$11.25 per share, Oracle said, equivalent to about $630 million. SAP confirmed separately that it has dropped out of the bidding, saying it chose to exercise "financial discipline."