Peoplesoft pursued its strategy of targeting vertical markets with the acquisition of life insurance software specialist, Trimark.
The privately held company made revenues of $14.5 million last year and analysts believe Peoplesoft paid $25-30 million for it. It will remain a separate entity for at least a year while its Transcend product is reworked using its new parent's Peopletools development environment. The product will then be integrated into the main product set.
As ERP software houses move more heavily into vertical markets, Peoplesoft is likely to make several more acquisitions. It took over retail specialist Intrepid Systems two weeks ago and last week signed a deal with Andersen Consulting to design profit analysis tools for the insurance sector.
Are you paying attention?
Private equity firm Permira only acquired Magento from eBay for $200m three years ago
Before robots can take over from humans, we need more humans
It's not easy not being evil