Oracle Acquires Drug Data Software Firm Phase Forward For $685M

Oracle Corporation (NASDAQ: ORCL) has agreed to acquire drug data management company Phase Forward Incorporated (NASDAQ:PFWD)? for $685 million. Oracle will be paying Phase Forward shareholders $17 per share which is a 30% premium of the closing stock price from last Thursday ($13.08). The deal is expected to close in mid-2010. Phase Forward’s clients include AstraZeneca and Boston Scientific. [DealBook]

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