Oracle Buys Art Technology Group for $1 Billion

Oracle may not be planning to spend $70 billion on acquisitions over the next five years, but it’s sure spending money as if it is.

This morning, the database giant, which has purchased eight companies so far in 2010, acquired a ninth–Art Technology Group, for which it will pay $1 billion. Oracle will pay $6 a share for the e-commerce software provider, 46 percent above its closing stock price on Monday. That’s quite a premium, but with customers that include AT&T, Best Buy and Vodafone, ATG has quite a presence in the e-commerce software sector.