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Siebel Systems Completes Acquisition of edocs

Thursday 20 January 2005 22:28 CET | News

Siebel Systems has closed its acquisition of edocs, Inc., a leading provider of eBilling and customer self-service software 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. Excluding the impact of a one-time merger-related charge, the company expects the transaction will reduce Q1 2005 earnings by approximately $0.01 per share. Additionally, the company currently expects a one-time charge in Q1 2005 estimated at $8-10 million, although the company is still completing its asset allocation analysis and this estimate is subject to change. Siebel Systems expects the transaction to be approximately neutral to earnings for the remainder of 2005. Siebel Systems plans to integrate its industry-leading CRM solutions with edocs’ customer service and eBilling applications to deliver one of the industry’s most comprehensive self-service solutions enabling companies to drive higher levels of customer satisfaction and adoption. The acquisition also extends Siebel’s current eService solution to include market-leading eBilling functionality, helping companies achieve immediate cost savings while offering a richer self-service experience to their customers. edocs’ solutions enable companies to improve customer service and increase customer loyalty while reducing the overall cost of serving their customers. Companies use edocs’ solutions to move the most common customer inquiries and transactions – such as billing, account management, and service order issues -- from expensive channels such as paper correspondence and contact center calls, to lower-cost self-service and assisted care channels such as the Web, email, and chat.


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Categories: Payments & Commerce | Payments General
Countries: World
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