In a recent KMWorld article, Alan Pelz-Sharpe lays out the broader implications for the ECM marketplace, but also looks at how it impacts customers.

First and foremost is where do current Stellent customers figure in this equation? Although it's too early to be sure, customers should expect change and not a continuation of the status quo for long. Stellent salespeople are stressing the product's new home in Oracle's Middleware group, where presumably Stellent could continue to support MS SQL Server and IBM DB2 -- not to mention its proprietary file system-based repository where content is really stored....but [Oracle] didn't buy Stellent for its customer base (of which its typical, large enterprise target buyer is not particularly well represented). Oracle bought Stellent for its technology, and it will want a rapid absorption into a full Oracle offering...