DOJ clears Oracle's acquisition of Siebel

The Department of Justice has given its approval to Oracle's proposed acquisition of Siebel , Siebel said in a statement Wednesday.

The proposed $5.85 billion acquisition still requires the approval of European Union regulators but both companies believe the deal is on track to be completed by the first quarter of next year, Siebel said.

Oracle announced plans to acquire Siebel in September, saying the acquisition will strengthen its CRM offerings.

The IDG News Service is a Network World affiliate.