Instead of providing color commentary on our press releases (as I usually do), I thought I would let this one speak for itself.
April 1, 2008 (Edison, NJ) - Following the successful launch of Postgres Plus and the recent influx of cash from IBM(IBM), EnterpriseDB today announced that it had made a tender offer to purchase Oracle Corporation (ORCL).
Currently trading just below $20.00, EnterpriseDB offered $.30 per share. When asked to comment on the ridiculously low number, Derek M. Rodner, EnterpriseDB's Director of Marketing responded, "We had to account for many factors when preparing this offer. It was a complicated process. Once you account for the future value of money and the expected value of Oracle's database business in 5 years, the numbers came out to be staggeringly low."
Larry Ellison was not available for comment, however an inside source at Oracle claims that the database business is the only part of the business that makes money today and the profit margins exceed what he called "morally ethical".
Though Oracle does not see their database business declining significantly over the next 5 years, analysts tend to be mixed. Some see open source databases disrupting the proprietary market, taking significant market share from Oracle and forcing Oracle to dramatically lower their prices.
EnterpriseDB's offer expires at midnight tonight and it is unclear whether Oracle will accept or not.