DENVER, June 9, 2003 – J.D. Edwards (NASDAQ: JDEC) Chairman, President and Chief Executive Officer Bob Dutkowsky today challenged Oracle’s (NASDAQ: ORCL) commitment to customer choice based on its attempted hostile takeover of PeopleSoft (NASDAQ: PSFT) which, according to Dutkowsky, will sharply reduce options for business software customers and possibly violate U.S. and European antitrust laws. On June 2, 2003, J.D. Edwards entered into a definitive agreement to merge with PeopleSoft.
“Oracle’s hostile tender offer for PeopleSoft will eliminate at least one of Oracle’s major competitors in several market spaces to the obvious detriment of customers,” said Dutkowsky.
“Oracle’s elimination of a competitor, its products, and their ongoing development would reduce customer choice and product support, and would leave many customers with greatly diminished options,” said Dutkowsky. “This harm to customers is exactly what antitrust laws are intended to protect against.”
Dutkowsky made the comments in front of a standing room only press conference that was broadcast live-via-satellite from the Colorado Convention Center where the J.D. Edwards annual customer event, Quest Global 2003, is taking place through June 12.
“Oracle’s attempted hostile takeover of PeopleSoft in no way affects our resolve to move forward with the PeopleSoft – J.D. Edwards merger and create the world’s second largest enterprise application software company,” said Dutkowsky. “We believe the PeopleSoft – J.D. Edwards merger is in the best interests of our shareholders, customers, and employees. Their best interests are the guiding criteria for everything we do.
“Our proposed merger with PeopleSoft is all about offering more choices to customers and prospects,” he said. “Oracle’s statements seem to indicate an intention to obstruct the proposed PeopleSoft – J.D. Edwards merger and to force consolidation upon the software industry which could limit choices, hurt customers’ businesses and, ultimately, hurt shareholder value.”
“We believe that the PeopleSoft – J.D. Edwards merger announcement last week was a positive, bold step, one that will shape the future of our industry,” he noted.
# # #
About J.D. Edwards & Company
J.D. Edwards (NASDAQ: JDEC) makes customers stronger, enabling them to solve their most important business challenges. The company designs, develops and markets collaborative enterprise software and consulting, education, and support services. J.D. Edwards’ offerings are differentiated by a deeply ingrained attitude of listening to customers, innovating on their behalf, and delivering solutions as part of a results-oriented relationship. Founded in 1977 and headquartered in Denver, Colo., J.D. Edwards focuses on long-term business partnerships and helping its 6,700 customers in more than 110 countries manage their business processes, supply chains, enterprise assets, and supplier and customer relationships. For more information:
www.jdedwards.com or 1-800-727-5333.
On June 2, 2003, J.D. Edwards announced that it had entered into a merger agreement with PeopleSoft, Inc. under which J.D. Edwards’ business and PeopleSoft will be merged, and J.D. Edwards will become a wholly owned subsidiary of PeopleSoft. The transaction is anticipated to close in the late third or early fourth calendar quarter. The transaction is subject to regulatory review, approval by the respective companies’ stockholders and other customary conditions.
Note to Media:
An audio replay of the June 9, 2003 J.D. Edwards press conference is available until June 16, 2003 by calling the following numbers:
U.S. Only: 1-800-925-0748
International: 402-220-3032
CONTACT: Victor Chayet J.D. Edwards Press Center
Director of Corporate Communications (303) 228-8360
(303) 885-9670 (cell) (303) 228-8361
------------------------------------------
Over J.D. Edwards
J.D. Edwards (Nasdaq: JDEC) ondersteunt organisaties bij het oplossen van hun belangrijkste uitdagingen. De onderneming ontwikkelt en levert ‘collaborative’ bedrijfssoftware en biedt advies, training en diensten rond J.D. Edwards 5. Het aanbod van J.D. Edwards onderscheidt zich door gebruiksvriendelijke, duurzame en resultaatgerichte oplossingen.
J.D. Edwards, opgericht in 1977, richt zich op langdurige relaties met zijn klanten. Momenteel ondersteunt de onderneming 6.700 klanten in meer dan 110 landen op het vlak van bedrijfsprocessen, toeleveringsketens, bedrijfsactiva, en leverancier- en klantenrelaties. Het hoofdkantoor is gevestigd in Denver, Verenigde Staten. De Nederlandse vestiging bevindt zich in Baarn. Meer informatie vindt u op de website: www.jdedwards.nl.
Op 2 juni 2003 heeft J.D. Edwards bekend gemaakt dat de onderneming zal fuseren met PeopleSoft Inc., waardoor J.D. Edwards een volledige dochter wordt van PeopleSoft. Het sluiten van de transactie is voorzien voor het einde van het derde kwartaal of het begin van het vierde kwartaal van dit jaar. De transactie moet nog goedgekeurd worden door controlerende instanties, de aandeelhouders van beide ondernemingen, en moet voldoen aan de gebruikelijke voorwaarden.
Voor meer informatie:
J.D. Edwards
Ingrid Wong
Ingrid_wong@jdedwards.com
035-548 0231
Whizpr
Peter Sips
jde@whizpr.nl
0317-410 483