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CONTACT INFORMATION
Siebel Systems, Inc.
www.siebel.com
Cecilia Denny
(650) 477-5861
cecilia.denny@siebel.com
FOR IMMEDIATE RELEASE
Siebel Systems Completes Acquisition
of edocs, Inc.
Siebel to Deliver Comprehensive CRM,
eBilling and Self-Service Solution that Improves Customer Service
and Satisfaction
SAN MATEO, CA, January 14, 2005 - Siebel Systems,
Inc. (NASDAQ: SEBL), a leading provider of business applications
software, today announced that it 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.
"The complementary strengths of Siebel Systems and edocs will
enable our customers to capitalize on the tremendous value of customer
self-service applications," said J. Michael Lawrie, CEO, Siebel
Systems. "These applications have become a vital component
of many companies' channel strategies because they guide customers
to the lowest cost, most appropriate channel for each interaction,
thereby delivering a superior customer experience at a dramatically
reduced cost. The growth of self-service applications is a clear
front-office trend, and with the closing of this acquisition we
are capitalizing on this growth opportunity."
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.
About Siebel Systems
Siebel Systems, Inc. is a leading provider of business applications
software, enabling corporations to sell to, market to, and serve
customers across multiple channels and lines of business. With more
than 4,000 customer deployments worldwide, Siebel Systems provides
organizations with a proven set of industry-specific best practices,
CRM applications, market-leading analytics products, and business
processes, empowering them to consistently deliver superior customer
experiences and establish more profitable customer relationships.
Siebel Systems' sales and service facilities are located in more
than 30 countries. For more information about Siebel Systems, Inc.,
please visit www.siebel.com.
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