PeopleSoft said it has completed a $US560 million acquisition of The Vantive Corp, a struggling vendor of customer relationship management (CRM) software.
PeopleSoft issued 28 million shares of common stock and stock options to buy Vantive, which lost $1.2 million on sales of $93.3 million in the first half of 1999 - the last period for which the company reported its financial results.
The purchase gives PeopleSoft its first entry into the burgeoning CRM market.
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