CRM vendors in buyout mode

SAN FRANCISCO (11/17/2003) - Midmarket CRM developer Onyx Software Corp. made a US$59-million unsolicited bid last week to snatch rival vendor Pivotal Corp. from the arms of another suitor. Pivotal had planned on being acquired by private-equity firm Oak Investment Partners to merge with Oak-backed Talisma Corp. Oak had offered to buy Talisma for approximately $47 million. If the buyout succeeds, Oynx claims merging the companies would create the industry's second-largest dedicated CRM vendor, behind Siebel Systems Inc.

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