Siebel systems acquires software vendor in US$975-million deal

Business software supplier Siebel Systems Inc. announced Monday that it has reached an agreement to acquire financial services software provider Janna Systems Inc. in a stock deal valued at US$975 million.

By integrating Toronto-based Janna’s technology into its electronic-business applications, Siebel aims to enhance its offerings targeted at the financial services industry, the San Mateo, California-based company said in a statement.

Expected to close in the fourth quarter of this year, the acquisition is still subject to the approval of Janna’s stockholders and appropriate government agencies, as well as certain customary closing conditions, Siebel said.

Siebel, in San Mateo, Calif., can be reached at