PeopleSoft buys CRM specialist Vantive for $433 Million
P.J. Jakovljevic - October 20, 1999

Event Summary

For its $433 million, PeopleSoft will get a CRM suite it can integrate with its enterprise resource planning offerings. PeopleSoft has struggled this year to redevelop its applications for the Internet and to right what has been a precarious financial ship. In August, PeopleSoft unveiled a new suite of ERP Web applications, but the company has lacked the type of CRM functionality that competitors such as Baan Co. and Oracle Corp. currently offer customers. Vantive, of Santa Clara, Calif., offers a CRM suite that includes a Web-based customer service application. PeopleSoft will debut its CRM strategy early next year, officials said. Most of PeopleSoft's competitors have long been preparing to enter or have entered the CRM arena, and PeopleSoft has been criticized for waffling on the issue...