The customer relationship management [CRM] giant is to pay up to $70 million for hosted CRM vendor UpShot Corp. Siebel said UpShot has over 1,000 customers, including Fortune 500 companies. Siebel will fork out $50 million in cash to close the deal, and up to $20 million over the next two years.

Siebel partnered with IBM [IBM] earlier this year to launch itself into the hosted CRM market. It said the UpShot deal would accelerate its push into this market. Siebel will offer the UpShot product alongside the Siebel CRM OnDemand offering, but will eventually converge the products. In the meantime, Siebel said it would offer seamless transition to Siebel’s platform for UpShot customers, and would indefinitely support those who choose not to make the switch.

At the same time, Siebel said it has bought up the assets of Motiva Inc, a provider of Enterprise Incentive Management software. Siebel said it would integrate Motiva’s technology with its own incentive product, and hoped to ship the integrated offering this quarter.

The two acquisitions came as Siebel released its results for the third quarter. Earlier this month it lowered its revenue target for the quarter, and warned that restructuring charges would tip it into a loss. It has now unveiled final revenues of $321.4 million, down 10% on the year. License sales were $110 million, down from $126.8 million last year. Operating loss was $91.3 million, compared to last year’s $154.7 million loss, while net loss was $59.3 million, compared to a $92 million loss a year ago. Once restructuring and other charges were excluded, net income stood at $16.1 million. For the year to date, sales were down 20% to $987.5 million, with a loss of $44.9 million.

This article was based on material originally published by ComputerWire.