"Organizations across many industries are looking for a unified commerce and customer relationship management platform to provide a seamless experience across all commerce channels," said Oracle executive vice president of development Thomas Kurian, The Street reported Tuesday.

Oracle, which closed on a $7.4 billion purchase of Sun Microsystems in January, agreed to pay $1 billion for ATG. The deal is subject to approval by shareholders and anti-trust regulators.

The deal, however, will not leave Oracle strapped for cash. At the end of the first quarter, Oracle said it had $23.6 billion on hand in cash and investments, despite having recently spent $8.5 billion to purchase BEA Systems.

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