Siebel inks deal for hosted CRM apps

FRAMINGHAM (10/17/2003) - Siebel Systems Inc. said it will pay US$70 million in cash to buy UpShot Corp., a Mountain View, Calif.-based vendor of hosted CRM applications. Siebel said it plans to sell UpShot's software in addition to the hosted applications it announced this month with IBM Corp., although the offerings eventually will be converged. Siebel has also bought the assets of Motiva Inc., a Pleasanton, Calif.-based developer of incentive compensation management software.

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