October 16, 2003
News Factor: In Surprise Move, Siebel Acquires UpShot
Rumors had been circulating for months that Siebel (Nasdaq: SEBL) was planning to build its own hosted version of its CRM software, and with great fanfare, the company introduced its "OnDemand" service -- a joint effort with IBM (NYSE: IBM) -- earlier this month. Wednesday afternoon though, Siebel successfully blindsided the market with the announcement it was acquiring the assets and customer base of UpShot -- one of the would-be rivals to Siebel OnDemand. At the same time, Siebel also announced it was acquiring the assets of Motiva, an incentive-management software company.
(full story)
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