Siebel Completes UpShot Buy

Share this article:
CRM vendor Siebel Systems Inc., San Mateo, CA, said yesterday that it has closed its acquisition of UpShot Corp., a hosted CRM provider.


UpShot shareholders will be paid $50 million in cash, and up to $20 million more may be paid in earn-outs during 2003 and 2004.


The UpShot acquisition accelerates Siebel Systems' penetration of the hosted CRM market. Siebel gains more than 100 employees experienced in developing and administering hosted products and about 1,000 customers.


Siebel has committed to support UpShot customers indefinitely. For example, it is offering an UpShot edition of Siebel CRM OnDemand, a product it announced last month with IBM Corp.


Share this article:
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

SAP Ramps Up Canadian Cloud Investment

SAP Ramps Up Canadian Cloud Investment

It's one of 16 new data centers the software company will open this year to meet a 39% increase in demand for cloud services.

Top 5 Spending and Investment Insights from Marketers

Top 5 Spending and Investment Insights from Marketers

Confidence in data-driven marketing led marketers to set high Q1 2014 goals.

MeritDirect Introduces Predictive Marketing Suite

MeritDirect Introduces Predictive Marketing Suite

New solutions include next logical product and customer lookalike modeling. The long-time direct marketing player announces it will open a San Jose office in September.