Oracle buys Phase Forward for $685M

Oracle announced today that it's purchasing Phase Forward for $17.00 per share in cash, or about $685 million. The deal, which is expected to close in mid-2010, represents a 30 percent premium over Phase Forward's closing price Thursday. Waltham, MA-based Phase Forward develops data management solutions for clinical trials and drug safety. The company's Integrated Clinical Research Suite manages clinical development and safety processes from Phase I clinical trials through regulatory...