Loading...
Loading...
Market chatter surfaced on Thursday that
Oracle CorporationORCL is considering an acquisition of
salesforce.com, inc.CRM.
Shares of Salesforce were trading higher by nearly 2 percent several hours after the rumor hit.
Speaking to Benzinga, Steve Koening, an analyst at Wedbush noted that Oracle "has accepted its market share losses in CRM [market], and has accepted the fact that they won't be number one."
Koening noted that Oracle's acquisition of Salesforce would result in it acquiring a "fairly pricey asset." The analyst also added that Oracle tends to show "reasonable caution" towards merger and acquisition activity.
Related Link:
Evercore ISI Casts Doubt On Rumored Salesforce Acquisition By Oracle
Koening continued, noting that Salesforce has also been rumored to be an acquisition target for International Business Machines Corp. He stated that this scenario is even less believable as IBM would be forced to change all Salesforce applications because they are more acclimated to Oracle's database format versus IBM's.
Koening concluded it is "certainly plausible" that Oracle could acquire Salesforce, but he has his doubts.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in