After an emotional and often bitter 18-month battle, PeopleSoft Inc. agreed to be acquired by Oracle Corp. for about $10.3 billion. Oracle's Chief Executive Larry Ellison had called the merging of the No. 2 and 3 business management software companies inevitable. Oracle's purchase of PeopleSoft creates a powerful competitor to SAP AG of Germany, the world's leading business management software maker, the Wall Street Journal reported.

Carr, Riggs & Ingram one of the largest firms in the Southeast region recently announced the mergers of two firms into the Carr, Riggs & Ingram group. The Birmingham, AL based public accounting firm of Mackle, Splawn, Tindall & McDonald joined forces with CRI earlier this month along with the firm of Weathersby, D’Aoust, Harris & Lynn, PA. Carr, Riggs said the mergers will broaden the firm's footprint. "CRI’s long range plan has been to move into larger metropolitan markets.

The European Union's executive body has announced it could find no reasons to stop Oracle's hard-fought battle to take over PeopleSoft Inc., clearing the last antitrust barrier in Oracle's way.The Wall Street Journal reported Wednesday that the European Commission studied the proposal for more than a year and cleared it without conditions. The EU concluded that the presence of PeopleSoft in the business-applications software market didn't "necessarily give rise to more aggressive discounting" and that a larger Oracle wouldn't hurt competition.

As part of its aggressive expansion plan, Fiducial, an international provider of professional business outsourcing services to small businesses and entrepreneurs, announced today that it has signed a definitive agreement to acquire the accounting offices of Indianapolis, IN-based

Saying the government failed to prove its case, a federal court has eliminated the major obstacle hindering Oracle's $7.7 billion hostile takeover bid of rival PeopleSoft.The Department of Justice went to court to block the deal on antitrust grounds earlier this year, charging the takeover would eliminate one of just three companies in the big-business software market.U.S. District Court Judge Vaughn R.

Under new rules proposed by the Financial Accounting Standards Board (FASB), companies would have to expense merger-related costs as they happen, rather than using one-time reserve funds, the Wall Street Journal reported.In some cases, companies that dip in later to improve their earnings picture have used the reserve funds improperly. Reserve liabilities are often set up at the time of merger and are used for expenses such as firing staff or closing the factories of the acquired company, the Journal reported.FASB, which writes U.S. accounting rules through the authority of the U.S.

Recently, Virchow, Krause and Company, LLP announced the launch of an international services group to satisfy the strategic globalization needs of the middle market. The newly created practice group will focus on providing companies with a full range of domestic and international planning and compliance services needed to be competitive in the global marketplace."With the launch of our global services group, we are stepping out to become a different type of company," said Tim Christen, CEO of Virchow Krause. "We have seen an increasing demand from companies looking to grow internationally.

CBIZ (Century Business Services, Inc.) announced last week the acquisitions of The Cleveland Solutions Group (CSG) of Cleveland, Ohio and Brockmann, Armour & Co. of Denver, Colorado effective in June 2004. CSG, founded in 1996, is a leading implementer of voice-over-IP solutions and provides system strategies, enterprise-wide network solutions and full systems deployment and integration. CSG employs approximately 14 people, recorded approximately $3.5 million in annual revenue for the past twelve months and will be merged into CBIZ Network Solutions.

Last week, Virchow Krause & Company, LLP announced its merger with KGN Financial Group.In making the announcement, KGN Financial Group Managing Member, Stephen D. Levin, stated, “This merger will provide our clients with access to many additional services and areas of expertise.