Sunday, November 05, 2006

Hit #123 (Stellent)

Stellent (STEL) is being acquired by Oracle for $440 million in an all-cash deal. The offer price, of $13.5/share represents a gain of 84% over my average cost of $7.34/share.

I had mentioned Stellent as a ripe target in an earlier post, though I suspected BEA to be the buyer. In fact, given the existing partnership between BEA and Stellent, Oracle buying Stellent reflects badly on BEA's ability to do strategic deals.

Who else is left in the content management sector ? FileNet got acquired earlier by IBM, giving me another hit (#111). Mobius (MOBI) and Interwoven (IWOV) are the remaining digestible targets. OpenText will also be a target down the road, but for now the company is occupied trying to digest Hummingbird.

Somewhat indirectly related, I expect Oracle or IBM to also go after Informatica (INFA), with the possibility of a sizeable premium.

Previous hit - Clark (#122)


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