Siebel Systems has acquired Scopus Technology for $460 million in an attempt to boost its presence in the so-called customer information systems (CIS) market.
The sales and marketing applications supplier claims it already has a 30 per cent share of the CIS market, but the purchase of Scopus, which sells call centre and customer services packages, will now increase this share to 55 per cent.
Phil Robinson, Siebel?s European marketing director, said: ?This merger makes Siebel a very significant player. We generated revenues of $118 million last year, but this will now make us a $206.4 million company, and analysts expect us to grow to $300 million this year. The merger will give us a leading position in the emerging enterprise relationship management space, which looks at everything to do with the front office.?
He added that the joint company would retain the name Siebel Systems and will employ 900 staff, including its own existing 500 employees. No redundancies are expected and Ori Sassoon, Scopus? president and chief executive, will become senior vice president and general manager of the customer service, field service and call centre business unit.
Scopus will be merged fully into the group and its brand name will disappear within three months, on completion of the merger. The two companies are still deciding on how to integrate their product families and have not yet confirmed timescales.
However, under the terms of the agreement, each outstanding share of Scopus common stock will be exchanged for .36405 of each newly issued share of Siebel?s common stock, following the firm?s two-for-one stock split on 26 February.
Siebel will issue about 7.5 million new Siebel shares, valued at about $460 million, as part of the transaction, which is expected to close next quarter.
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