Oracle, the US computer group, has triumphed over its German rival SAP in a month-long bidding war to acquire Retek, a Minneapolis-based retail software developer. Late yesterday evening Oracle announced it had agreed to acquire Retek for $669m (€508m).

SAP initially bid $8.50 a share last month. Oracle followed with a $9-per-share offer a few days later. Last week Oracle increased its bid to $11.25.