Oracle Buys ProfitLogic
Trying to strengthen its retail technology position, Oracle Corp. Tuesday purchased ProfitLogic Inc., a small but well-positioned retail software company.
The acquisition comes only a few months after Oracles takeover of Retek Inc. Both Retek and ProfitLogic counted some high-profile retail companies among their customers. ProfitLogics 30 customers included Bloomingdales, Macys, JC Penney, Nordstrom, Toys R Us, Marshall Fields, The Gap and Ann Taylor.
Terms of the deal were not immediately disclosed.
The retail profit optimization trend is crucial to todays retailer, said Scott Friend, co-founder and president of ProfitLogic, during a news conference Tuesday evening.
"No one can out-efficiency Wal-Mart," Friend said. "The only way to [beat Wal-Mart] is through better customer intimacy."
Oracle officials said the combined Oracle operationincluding Retek, ProfitLogic, JD Edwards and PeopleSoftnow has about 1,900 retail customers.
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