Siebel Systems, which has been under fire from shareholders, on Wednesday replaced CEO Michael Lawrie who had led the company for less than a year.
Former Siebel Systems chief executive Michael Lawrie, ousted last week after less than a year on the job, received a US$4.5 million severance payment, according to a regulatory filing issued on Wednesday.
Tom Siebel has stepped down as chief executive of Siebel Systems, the business software company he founded in the 1990s and made synonymous with the multibillion-dollar customer relationship management software market.
Larry Ellison tries to allay concerns that the planned takeover could eliminate Siebel on Demand and delay the release of Project Fusion.
Oracle outlined its integration plans for Siebel Systems on Thursday, with 2,000 job cuts among the most notable tasks at hand.
ICT salaries are rising, but they are certainly not skyrocketing.
Greg Gianforte, RightNow Technologies CEO, talks about Oracle's Project (Con) Fusion and the intersection between on-demand software and open source.
Few people in the high-tech industry have feuded as openly as Oracle's flamboyant CEO Lawrence Ellison and Thomas Siebel, the co-founder and chairman of rival enterprise software maker Siebel Systems.
Software maker Oracle said on Monday it will acquire rival Siebel Systems in a deal worth US$5.8 billion, marking the second major competitor the company has targeted since mid-2004.
Oracle will acquire Siebel Systems for US$5.8 billion. The long-predicted buyout will have interesting ramifications on the Australian market.
In the midst of a hostile takeover battle for PeopleSoft, database giant Oracle already eyeing Siebel Systems.
Apple drops iPhone NDA
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