Business network and software development company PeopleSoft, Pleasanton, CA, said last week that it will buy customer relationship management company Vantive Corp., Santa Clara, CA, for $33 million.
Under terms of the agreement, each share of Vantive common stock will be exchanged for 0.825 of a share of PeopleSoft common stock. Founded in 1990, Vantive employs more than 800 people and has systems operating in 25 countries. It develops business software applications, sales and customer service support solutions used by Hewlett-Packard, Sears and other major companies.
Analysts said Vantive’s technical systems and CRM expertise are attractive to PeopleSoft because they can offer the company advantages in the converging worlds of technology, e-commerce and online DM.