PeopleSoft yesterday announced an agreement to buy customer relationship management vendor Vantive for approximately $US433 million in stock, according to a company statement.
Through the Vantive acquisition, PeopleSoft will offer e-commerce applications designed to attract, retain, service and analyse customers, the company said. The goal is to allow enterprises to track customers throughout their purchasing life cycles, PeopleSoft said.
The $433 million stock deal is based upon PeopleSoft's closing price of $17.25 per share on October 8, the company said. It has been approved by the boards of both companies but is subject to approval by Vantive's stockholders and regulators, PeopleSoft said. The merger is expected to be finalised in the first quarter of 2000, the company said.