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Siebel Strengthens Portfolio

Siebel Systems, Inc., a provider of business applications, signed a definitive agreement to acquire edocs, Inc., a provider of eBilling and customer self-service software solutions. The acquisition expands Siebel's offerings in the growing market for eBilling and customer self-service applications (estimated by some to be $3 billion).

Through the proposed acquisition, Siebel expects to deliver one of the industry's most comprehensive self-service solutions, enabling companies to improve their customers' experience and reduce costs. The acquisition will also strengthen Siebel Systems' offerings of multi-channel customer-facing solutions. The acquisition is in line with Siebel's growth strategy to provide a broader and deeper range of front-office solutions.

Under the terms of the deal, Siebel Systems will initially pay $115 million in cash to edocs shareholders. Additional payments, based on achieving revenue and other contractual milestones, may be paid in 2006.

Siebel Systems plans to deliver an integrated solution that will leverage the domain expertise, complementary technologies, and successful track records of both companies and initially target the communications, financial services, healthcare, and energy industries. By integrating its CRM and business intelligence solutions with edocs' comprehensive eService, self-service and eBilling platform, Siebel Systems will be able to provide one of the industry's most complete and effective customer self-service solutions to help companies drive higher levels of customer satisfaction and adoption.

For more info, www.siebel.com.