The firm stated that it will make Siebel's applications the centrepiece of its CRM strategy for its forthcoming Fusion application suite.
Siebel shareholders have the option of a one-time cash payment of $10.66 per share or can opt to trade in their shares for Oracle stock.
The database vendor will purchase the shares in the marketplace, effectively making it an all-cash transaction.
Oracle has scheduled an investor conference call for Thursday, but did not mention any briefings or updates for users and developers.
Privilege escalation bug already being exploited in the wild
NASA's Voyager 2 probe set to reveal secrets of space beyond the heliosphere as it goes interstellar
The probe is now more than 18 billion kilometres from Earth, with equipment enabling it to reveal some of the secrets of interstellar space
Four glaciers located west of massive Totten glacier have lost almost three metres of ice in height since 2008
Ceres, located in the asteroid belt, has a carbonaceous-rich upper crust, SwRI study claims