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 http://www.siebel.com/.

Would you recommend this article?

0
0
Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication. Click this link to send me a note →

Jim Love, Chief Content Officer, IT World Canada