BOSTON Siebel Systems, a customer relationship management software company, said it has agreed to purchase Edocs, a provider of online billing and customer self-service software.
Siebel said it would initially pay $115 million in cash to Edocs shareholders as part of the agreement.
Additional payments, based on achieving revenue and other performance goals, may be paid in 2006, the company said.
The acquisition will help Siebel forge a greater presence in the online billing and customer self-service products markets.
The transaction will close early next year. Siebel is in San Mateo, Calif.; Edocs is located in Natick, Mass.
—Adweek staff report