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Technology / AI and automation

SIEBEL ACQUIRES INTERACTIVE WORKPLACE

Siebel Systems Inc, San Mateo, California provider of sales, marketing, and customer service information systems is to buy privately-held InterActive WorkPlace Inc, a Boston based developer of intranet-based business intelligence software, for approximately $15m in shares and cash. The transaction will be accounted for as an acquisition and Siebel will expense the majority of the purchase price in its fourth quarter as a one-off charge for acquired in-process technology. Siebel sells its product through strategic partnerships with the likes of Andersen Consulting, Digital Equipment Corp and Compaq Computer Corp. The shares opened $0.63 higher at $35.25.

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