Siebel to acquire edocs for $115m

Siebel Systems has agreed to acquire edocs, a maker of e-billing and customer self-service applications, for $115m (£770m).

Siebel Systems has agreed to acquire edocs, a maker of e-billing and customer self-service applications, for $115m (£770,000).

The move is part of Siebel's strategy to provide a broader range of front office applications with its CRM suite, the company said.

Edocs products are supposed to help businesses cut costs by reducing the use of paper and letting customers use more self-service channels such as the web and e-mail.

Combining the two companies' products should help customers reduce call centre costs and retain clients, it said. Edocs' customers include British Telecom, Harvard Pilgrim Healthcare, Toyota Financial Services and Verizon Wireless, Siebel said.

Siebel will initially pay $115m in cash for the smaller company. Further payments may follow if the products reach certain revenue targets, Siebel said. The deal is expected to close early next year pending regulatory approval.

James Niccolai writes for IDG News Service

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