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Oracle to Buy Agile Software for $495 Million

Oracle , the database and software maker, said it agreed to buy Agile Software for roughly $495 million in cash.

The deal values Agile Software , a maker of product life cycle management software, at $8.10 a share.

"The addition of Agile, which will serve as the foundation of our product life cycle management (PLM) offering, will further Oracle's strategy of delivering industry-specific enterprise applications and allows us to offer yet another strategic application to SAP customers," said Oracle president Charles Phillips in a statement.

Agile was founded in 1995, and is based in San Jose, Calif. Shares rose 10% in after-market trading Tuesday.

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