natgillin/translations-raw huggingface dataset:
District Court of Northern California afviste i sin dom af 9. september 2004 at nedlægge forbud mod transaktionen.
The District Court of Northern California refused to grant an injunction regarding the transaction by judgement of 9 September 2004.
Under retssagen blev der offentliggjort en lang række dokumenter fra forskellige virksomheder om transaktionen, hvoraf en del blev lagt på det amerikanske justitsministeriums hjemmeside.
In the course of the trial, numerous documents from enterprises concerning the transaction became public and were (partly) put on the website of the US Department of Justice.
Afskrifterne af omkring 30 vidneforklaringer afgivet under retssagen er desuden blevet offentliggjort.
Also transcripts of the statements made by around 30 witnesses in the trial have become public.
Kommissionen brugte dele af bevismaterialet fra den amerikanske retssag i sin beslutning.
The Commission included parts of the evidence from the US trial in this decision.
Oracle er et børsnoteret selskab, hvis stamaktier handles på NASDAQ-børsen, og som beskæftiger sig med udformning, udvikling, fremstilling og distribution af software til virksomhedsapplikationer, database- og applikationsserversoftware og tilhørende tjenester.
Oracle is a publicly listed company whose common stock is traded on the Nasdaq and which is active in the design, development, manufacture and distribution of enterprise application software, database and application server software and related services.
PeopleSoft er et børsnoteret selskab, hvis stamaktier handles på NASDAQ-børsen, og som beskæftiger sig med udformning, udvikling, fremstilling og distribution af software til virksomhedsapplikationer og beslægtede tjenester.
PeopleSoft is a publicly listed company whose shares are traded on the Nasdaq and which is active in the design, development, manufacture and distribution of enterprise application software and related services.
Den anmeldte transaktion består af et offentligt bud på samtlige aktier i PeopleSoft.
The notified operation consists of a public bid for all outstanding shares of PeopleSoft.
Oracle afgav sit offentlige overtagelsestilbud den 9. juni 2003.
Oracle launched the public bid on 9 June 2003.
Tilbuddets udløbsdato er flere gange blevet forlænget af Oracle.
The expiration date of the offer has often been extended by Oracle.
Tilbuddet omfatter de aktier, PeopleSoft har udstedt som bidrag til overtagelsen af JD Edwards.
The offer also includes the outstanding shares which have been issued by PeopleSoft as a contribution for the acquisition of JD Edwards.
PeopleSoft modsætter sig tilbuddet, og det støttes ikke af virksomhedens bestyrelse.
The bid is contested by PeopleSoft and does not have the support of the Board of Directors of PeopleSoft.
DE RELEVANTE MARKEDER
THE RELEVANT MARKETS
Avancerede HR- og FMS-løsninger eller software
High-function HR and FMS solutions or software
Både Oracle og PeopleSoft sælger virksomhedsapplikationssoftware (enterprise application software, eller EAS).
Oracle and PeopleSoft are vendors of enterprise application software (EAS).
EAS er software, som understøtter vigtige funktioner, der er påkrævede for at forvalte en virksomhed effektivt på koncernniveau eller i den enkelte afdeling, som f.eks. finansiel forvaltning, automatisering af virksomhedens salg og marketing eller forvaltning af ressourcer i forbindelse med projekter på koncernniveau.
EAS is software that supports major business functions needed to manage a business effectively at a corporate or branch level, such as managing corporate finances, automating the sales and marketing functions of a company, or managing the resources involved in corporate projects.
EAS, som er tilgængeligt som lagervare, kaldes »pakkesoftware« for at adskille det fra skræddersyet software, der udfylder de samme funktioner som pakkeapplikationer, men som udvikles internt i virksomheden eller med hjælp fra eksterne konsulenter.
EAS that is commercially available ‘off the shelf’ is referred to as ‘packaged’ software, in order to distinguish it from customised software that fulfils the same functions as packaged applications, but is developed in-house or with the help of outside consultants.
I sektoren opdeles EAS generelt i kategorier efter anvendelse med stort set samme formål.
The industry generally groups EAS into categories having functionality with broadly similar purposes.
De relevante kategorier for denne transaktion er systemer til finansiel forvaltning (financial management systems, eller FMS) og menneskelige ressourcer (human resources, eller HR), der under et ofte kaldes enterprise resource planning (ERP).
The relevant categories for the present transaction are financial management systems (FMS) and human resources (HR), together often called enterprise resource planning (ERP).
Kommissionen har fastslået, at de relevante produktmarkeder for vurdering af denne transaktion er markederne for avanceret FMS- og HR-softwareapplikationer.
The Commission found that the relevant product markets for the assessment of the present transaction are the markets for high-function FMS and HR software applications.
Da HR- og FMS-applikationer ikke er substituerbare for køberne, betragter Kommissionen dem som to særskilte markeder.
As HR and FMS applications are not substitutable for buyers, the Commission considers these as two distinct markets.
Avancerede FMS- og HR-softwareapplikationer udarbejdet til store og komplekse virksomheder, som kræver software og tilhørende tjenester af en særligt høj standard blandt andet med hensyn til softwarets skalérbarhed, konfigurérbarhed, forfinelse, pris, pålidelighed og kvalitet samt genkendelse af sælgers mærkevare.
The high-function FMS and HR software applications are intended to serve the needs of large and complex enterprises (LCEs) which require software and accompanying services with a particularly high standard in terms of, inter alia, scalability, configurability, sophistication, pricing, reliability and quality of the software and brand recognition of the vendor.
Markedsanalysen viser, at avanceret HR- og FMS-software har andre kendetegn end produkter af mellemkvalitet.
The market investigation showed that characteristics of high-function HR and FMS software are different from those of mid-market products.
Generelt er avancerede softwareløsninger mere komplekse, tilbyder flere funktioner, understøtter flere brugere (både samlet antal og antal brugere samtidig), er langt dyrere (fra to til fem gange) og har højere implementeringsomkostninger end software af mellemkvalitet.
In general, high-function software solutions are more complex, offer greater functionality, support more users (in total as well as in concurrent-use numbers), are much more expensive (from two to five times or more) and have higher implementation costs compared to mid-market software.
Avanceret HR- og FMS-software har en større bredde med hensyn til horisontal anvendelse og større dybde med hensyn til vertikal anvendelse.
High-function HR and FMS software have a greater breadth of horizontal functionality and more depth of vertical functionality.
Avanceret software skal understøtte meget store antal brugere (f.eks. 30000 ansatte, som samtidig benytter onlineportaler selvstændigt) og store transaktionsmængder og skal derfor være meget skalérbart.
High-function software has to support very high volumes of users (e.g. 30000 employees simultaneously using online employee self-service portals) and high volumes of transactions and therefore has to have a very high degree of scalability.
Software af mellemkvalitet er normalt begrænset til nogle hundrede brugere.
Mid-market products typically have their limits at several hundreds users.
Avanceret HR- og FMS-software kan klare store virksomheders komplekse organisationsstrukturer.
High-function HR and FMS software can cope with large companies’ complex organisational designs.
Store og komplekse organisationer inddrager i reglen en række afdelinger i deres aktiviteter, mens små- og mellemstore virksomheder lader en eller nogle få personer udføre funktionerne.
In carrying out their activity, large and complex organisations usually involve several departments whereas in mid-size and small companies functions are carried out by one/a few persons.
Avanceret HR- og FMS-software skal opfylde de retlige krav og overholde regnskabsreglerne i de største økonomiske zoner og retsområder (f.eks. US-GAAP, IAS og andre nationale systemer). I denne forbindelse vil store og komplekse virksomhedsløsninger ofte understøtte en række regioner og forskellige valutaer samtidig eller i næsten realtid.
High-function HR and FMS software has to offer compliance with the legal requirements and accounting rules of the main economic zones and legal jurisdictions (e.g. US-GAAP, IAS and other national systems); in this context, large and complex company solutions will tend to support multiple regions and different currencies simultaneously or almost in real-time.
Som mindstekrav skal disse løsninger indeholde mekanismer, der giver store virksomheder mulighed for at forvalte sådanne forskelle med mindst muligt besvær.
At a minimum, these solutions must provide mechanisms for large enterprises to manage these differences with a minimum effort.
Desuden skal applikationer til store virksomheder samtidig understøtte en lang række sprog, selv på et enkelt sted, f.eks. undertiden japansk og kinesisk.
In addition, large enterprises’ applications must simultaneously support multiple languages even within a single location, including sometimes Japanese and Chinese languages.
Løsninger af mellemkvalitet er typisk lavet til brug i en bestemt region og rummer derfor i reglen langt færre valgmuligheder med hensyn til sprog og geografisk dækning.
Mid-market solutions typically have been optimised for use in a specific economic region, and as a result typically provide far less language and geographic support options.
En meget høj grad af produktvedligeholdelse og support er afgørende for store komplekse virksomheders valg af EAS-produkter, og dette er betegnende for avancerede HR- og FMS-løsninger i forhold til løsninger af mellemkvalitet og den gennemsnitlige kundes behov for support.
A very high level of product maintenance and support drives LCEs’ choice of EAS products and is an inherent characteristic of high-function HR and FMS solutions, compared to mid-market solutions and to the support needs of a mid-market customer.
Komplekse virksomhedssystemer skal tage højde for konsekvenserne af, at den globale virksomhed har behov for dækning 24 timer i døgnet, syv dage om ugen.
Complex enterprise systems must consider the impact of 24-hour/seven-day coverage required for the challenges of the global company.
For ordinære virksomheder kombinerer man i reglen et hovedkvarter i USA eller Europa med mindre salgs- eller distributionskontorer i udlandet.
For mid-market companies, usually a primary location in the US or Europe is linked to smaller sales offices or distributors overseas.
Arkitekturen bag avancerede løsninger er fundamentalt forskellig fra arkitekturen bag produkter af mellemkvalitet.
The underlying architecture of high-function solutions is fundamentally different from the one of mid-market products.
Ofte kan man kun opnå den gennemslagskraft, der kræves af avancerede EAS-løsninger, ved at anvende en arkitektur med en række lag.
Often, only a multi-tier architecture can achieve the level of throughput that is required from high-function EAS solutions.
Løsninger af mellemkvalitet har enklere grænseflader eller enklere API’er (application programming interfaces), hvilket gør dem lettere at integrere med andet software af mellemkvalitet og andre løsninger af mindre målestok, mens der er begrænsede muligheder for direkte at supplere softwarets anvendelighed.
Mid-market solutions normally have simpler interfaces, or simpler APIs (application programming interfaces), making them easier to integrate in a simple way with other mid-market software and other smaller-scale solutions, but allowing little scope for adding directly to the functionality of the software.
Avanceret software har ofte komplekse og specialiserede API’er, der giver mulighed for fuldstændig og kompleks integration med andre omfattende softwareløsninger og for at tilføje nye funktioner og dermed skræddersy løsninger samt for at understøtte en række populære programmeringssprog.
High-function software tends to have complex and proprietary APIs which allow full and complex integration with other large scale software solutions and additional functionality to be added to customise the solutions as well as supporting multiple popular programming languages.
Kommissionens undersøgelse viste endvidere, at »bedst i klassen«-softwareløsninger, outsourcing af HR-software, systemintegrationstjenester og etableret software (allerede installeret hos kunderne) ikke skaber konkurrencemæssige begrænsninger af muligheden for en mindre, men permanent forhøjelse af prisen på avanceret software. Derfor befinder alle disse produkter/tjenester sig ikke på de relevante markeder.
The Commission’s investigation further showed that ‘best-of-breed’ or point solution software, HR software outsourcing services, system integration services and incumbent software (already installed at customers) do not represent competitive constraints vis-à-vis a small but non transitory increase in price of high-function software, and therefore all these products/services are not in the relevant markets.
Store og komplekse virksomheder som kunder
Large and complex enterprises as customers
Avancerede HR- og FMS-løsninger er software, der typisk købes af komplekse organisationer/virksomheder med en meget høj grad af funktionelle behov, som forventer høje standarder for produkternes ydeevne og kræver hurtig levering og konstant adgang til ledsagende tjenester.
High-function HR and FMS solutions are software that is typically purchased by complex organisations/companies which have a very high level of functional needs, expect high standards in product performance and require short time and continuous availability of accompanying services.
Kommissionen er derfor kommet til den konklusion, at der er tale om særskilte produktmarkeder for avancerede FMS- og HR-løsninger for store og komplekse virksomheder.
The Commission has therefore come to the conclusion that there are distinct product markets for FMS and HR high-function solutions for large and complex enterprises.
Forhandlere af avanceret HR- og FMS-software
Vendors of high-function HR and FMS software
Kommissionen undersøgte endvidere, hvem forhandlerne af avanceret FMS- og HR-software er.
The Commission further established who the vendors of FMS and HR high-function software are.
Disse leverandører skaber de konkurrencemæssige begrænsninger for et fusioneret Oracle/PeopleSoft på de berørte markeder.
Those suppliers form the competitive constraints for a combined Oracle/PeopleSoft in the markets at stake.
Kommissionen fastslog, hvem der var leverandører på markedet ved at se på de tilbud, der var afgivet for at få sådanne kunder, dvs. store og komplekse virksomheder med behov for komplekse løsninger inden for HR- og FMS-applikationer.
The Commission established the suppliers in the market by looking at the bids made by suppliers for such customers, i.e. for large and complex enterprises needing complex functionality in the field of HR and FMS applications.
Det synes imidlertid at være vanskeligt at skelne klart mellem kunderne på grundlag af kompleksiteten af deres behov og dermed mellem kunder til applikationssoftware, der kan dække behovene i sådanne store og komplekse virksomheder, og applikationer tilpasset kunder, der aftager løsninger af mellemkvalitet.
However, it appears difficult to draw a clear-cut line between the customers on the basis of the complexity of their needs and therefore between customers of application software which is able to cater for the needs of such large and complex enterprises and those applications adapted for mid-market customers.
For at kunne foretage sin undersøgelse benyttede Kommissionen indikatorer for at beskrive disse kunder og de transaktioner, denne type softwareapplikationer er beregnet til.
In order to be able to carry out its investigation, the Commission used proxies to describe those customers and the transactions for such software applications.
Man kan imidlertid med sikkerhed antage, at en virksomhed, der sikrer sig en kontrakt på en licens til HR- og FMS-applikationer med en værdi på over 1 mio. EUR, er leverandør af avancerede FMS- og HR-applikationer.
However, for a licence of a value in excess of EUR 1 million it can be safely assumed that anyone winning a bid above this threshold for applications in the field of HR and FMS may be considered as a supplier of high-function FMS and HR solutions.
Kommissionen supplerede denne tærskelværdi med en afgrænsning af kunderne som store og komplekse virksomheder.
The Commission further complemented this threshold by a delineation of large and complex enterprises as customers.
Markedsanalysen viste, at tærskelværdier på 10000 ansatte eller indtægter på 1 mia. EUR kunne være passende grænser for, hvornår virksomheder generelt kan betegnes som store og komplekse.
The market investigation showed that thresholds of 10000 employees or of revenues exceeding EUR 1 billion might be an appropriate proxy for a rough qualification of large and complex undertakings.
Kommissionen konkluderer, at en supplerende række indikatorer kan anvendes til en første kategorisering af tilbuddene for at afgøre, om der er tale om avanceret software til store og komplekse virksomheder.
The Commission concludes that the complementary set of proxies can be used for a first qualification of the bids to assess whether the bids are for high-function software for large and complex enterprises.
Ved hjælp af disse indikatorer analyserede Kommissionen de tilbudsrunder i 2001 og 2002, som EAS-forhandlere deltog i, samt de tilbud, Oracle fremlagde som svar på Kommissionens anmodning om oplysninger efter den mundtlige høring.
With the help of these proxies, the Commission analysed the bids in which EAS vendors participated in 2001 and 2002 as well as the bids submitted by Oracle in response to the Commission’s information request after the Oral Hearing.
Endvidere analyserede Kommissionen dokumenter fra den amerikanske retssag vedrørende tilbud for at fastslå, hvem leverandørerne af denne type softwareapplikationer er.
The Commission further analysed documents relating to bids resulting from the US trial in order to establish who the suppliers of such software applications are.
På grundlag af dette materiale konkluderede Kommissionen, at på markederne for avanceret FMS- og HR-software til store og komplekse virksomheder er Oracle, PeopleSoft og SAP hovedaktørerne.
On the basis of this evidence, the Commission concluded that in the markets for high-function FMS and HR for large and complex enterprises Oracle, PeopleSoft and SAP are the main players.
Hver af disse aktører optrådte i mindst 50-100 tilbud inden for en toårig periode, hvor indikatorerne forekom, og som derfor vedrørte avanceret software til store og komplekse virksomheder (dvs. virksomheder med over 10000 ansatte og indtægter på over 1 mia. EUR).
Each of these players identified at least 50 to 100 bids within a two-year period falling under the proxies and therefore concerning high-function software for large and complex enterprises (i.e. companies with more than 10000 employees and revenues exceeding EUR 1 billion).
Kommissionens data og materialet fra Oracle viser imidlertid, at andre aktører undertiden vinder kontrakter om avanceret FMS- og HR-software til store og komplekse virksomheder.
However, the Commission’s data and the submissions by Oracle show that occasionally other players win bids for high-function FMS and HR software to serve the needs of large and complex enterprises.
Af andre forhandlere af avanceret HR- og/eller FMS-software kan nævnes Lawson, Intentia, IFS, QAD og Microsoft.
Other such vendors of HR and/or FMS high-function software are: Lawson, Intentia, IFS, QAD and Microsoft.
Selv om disse forhandlere kun vandt et begrænset antal kontrakter, blev de i en lang række tilbudsrunder om avanceret FMS- og HR-software enten nr. 2 eller afgav tilbud på licenser på over 1 mio. EUR.
Although these vendors won only a limited number of bids, they were either runner-ups for high-function FMS and HR software or they participated in bids with a license value exceeding EUR 1 million in a larger number of bids.
På grundlag af Oracles data om tilbud samt to andre datasæt fra den amerikanske retssag foretog Kommissionen en økonometrisk undersøgelse for at fastslå, om Oracles adfærd afhang af, hvem konkurrenterne var i den endelige tilbudsrunde.
Using Oracle’s dataset containing bid data, as well as two other datasets obtained from the US trial proceedings, the Commission further undertook an econometric analysis in order to investigate whether the data revealed a difference in Oracle’s bidding behaviour depending on the identity of the competitors in the final bidding round.
Kunne man fastslå, at Oracle var forholdsvis mere tilbøjelig til at give omfattende rabatter, når enten SAP eller PeopleSoft deltog i den endelige runde, end når andre konkurrenter deltog, ville det indirekte vise, at konkurrencen hovedsagelig foregår mellem de tre store softwareleverandører, og at kun Oracle, SAP og PeopleSoft forhandler avancerede FMS- og HR-software til store og komplekse virksomheder.
A finding that Oracle was relatively more likely to provide aggressive discounts when either SAP or PeopleSoft were present in the final bidding round rather than when competing against other competitors would suggest indirect evidence that competition is mainly between the big three software providers and that only Oracle, SAP and PeopleSoft are vendors of high-function FMS and HR software to serve the needs of large and complex enterprises.
Det overordnede resultat var, at man ikke kunne påpege nogen væsentlig forskel i Oracles adfærd, når virksomheden konkurrerede mod SAP og PeopleSoft eller mod andre virksomheder.
The main finding was that no significant distinction could be identified between the behaviour of Oracle when competing against SAP and PeopleSoft compared to the behaviour against other bidders.
Dette gjaldt også, når man kun tog hensyn til store kontrakter.
This was true even when restricting attention to large deals.
Kommissionen analyserede endvidere specifikationerne og anvendelsesområdet for produkterne fra de øvrige forhandlere af FMS- og HR-software, nemlig Lawson, Intentia, IFS, QAD og Microsoft.
The Commission further analysed the capabilities and reach of the FMS and HR software of the other vendors, Lawson, Intentia, IFS, QAD and Microsoft.
På grundlag af det materiale, der blev fremlagt ved den amerikanske retssag i San Francisco, konkluderede Kommissionen, at på trods af begrænsninger i hver af disse forhandleres udbud af avanceret HR- og FMS-software i forhold til Oracle, PeopleSoft og SAP, har de alle en række kunder inden for HR og FMS, som kan betegnes som store og komplekse virksomheder.
Particularly on the basis of the evidence that has come out of the US trial in San Francisco, the Commission concluded that, despite limitations in the product offerings of each of these vendors as opposed to Oracle, PeopleSoft and SAP regarding HR and FMS high-function software, each of them has several customers in the field of HR and FMS which may qualify as large and complex enterprises.
Disse forhandlere kan være i stand til at dække deres behov i hvert fald inden for de vertikale områder, de enkelte forhandlere er specialiseret i.
These vendors may be able to serve their needs at least in the verticals in which the respective vendor specializes.
De relevante produktmarkeder er derfor markederne for henholdsvis avancerede FMS- og HR-løsninger for store og komplekse virksomheder.
The relevant product markets are therefore, respectively, high-function FMS and HR solutions for large and complex enterprises.
Hovedaktørerne på disse markeder er SAP, Oracle og PeopleSoft.
The main players in these markets are SAP, Oracle and PeopleSoft.