Art Technology Group Inc. (ARTG) Soars on Acquisition News

Art Technology Group Inc. (NASDAQ: ARTG) shares soared after the company announced that t received a takeover proposal from Oracle Corporation (NASDAQ: ORCL). The stock ended the day 45.12% higher on above average volume of 89.72 million. It touched an intra-day high of $5.99. The stock has a 52-week range of $2.98-$6. Today, the company announced that it will be acquired by Oracle through a cash merger for $6.00 per share, or approximately $1.0 billion. ATG’s solutions enable enterprises to provide a cohesive online customer experience with sophisticated merchandising, marketing, content personalization, automated recommendations, and live-help services. The company also reported its third quarter results, with revenues at $50.3 million, a 16% increase over third quarter 2009 revenue of $43.4 million. The net income reported was $4.2 million, or $0.03 per diluted share, compared with net income of $4.0 million, or $0.03 per diluted share, in the third quarter of 2009. ATG develops and markets a suite of e-commerce software products. The company is based in Cambridge, Massachusetts. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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