Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: Lee L. who wrote (3146)	11/18/1999 1:34:00 PM
From: Beltropolis Boy	Respond to of 6974

Siebel acquires OnTarget in $259 million deal By Melanie Austria Farmer Staff Writer, CNET News.com November 18, 1999, 9:50 a.m. PT news.cnet.com Siebel Systems today said it has acquired OnTarget in a stock-for-stock deal worth $259 million. Under the deal, Siebel said it will combine OnTarget's suite of training programs and professional services for sales and marketing with Siebel customer relationship management (CRM) applications, or software that automates a company's sales, marketing and customer service needs. Under terms of the deal, each outstanding share of OnTarget common stock will be exchanged for approximately 0.3078 of Siebel stock. This will result in approximately 3.7 million additional Siebel shares worth about $259 million based on Siebel's closing price yesterday of $70, the companies said. San Mateo-based Siebel said it has partnered with OnTarget since 1996 to integrate its software that helps companies train salespeople into Siebel's product line. To date, the Siebel Target Account Selling module has been licensed to more than 100,000 salespeople. The companies said they will deliver an integrated product by the first half of next year. Atlanta-based OnTarget will operate as a wholly owned subsidiary of Siebel, the companies said. OnTarget chief Alston Gardner will become the vice president and general manager of OnTarget. The acquisition must be approved by OnTarget's shareholders. The transaction is expected to close by year's end.