Siebel Systems Expands E-Commerce Offerings
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Each outstanding share of OpenSite common stock will be exchanged for approximately .13 for Siebel (SEBL) common shares. All outstanding stock options of OpenSite will be exchanged for Siebel Systems stock options at the same exchange ratio, which will equal about 3.9 million additional Siebel Systems shares.
OpenSite's solutions include both software and services that allow a business to conduct dynamic commerce, which includes forward auctions, reverse auctions, auction networks, cross-auction portals and exchanges.
Using OpenSite solutions, organizations can reduce order processing costs and provide buyers with improved buying experiences through cross-selling and other promotional opportunities. Customers will be able to choose how they want to transact their business as Siebel Systems' multichannel e-business solutions facilitate the interaction options across any communication channel. OpenSite solutions offer the transaction options.
"Siebel Systems distinguishes itself by setting a new standard for the industry by providing customers with the opportunity to choose both how they prefer to interact, as well as transact, when they communicate with a company," said Thomas M. Siebel, chairman and chief executive officer, Siebel Systems. "No one else can deliver both eCommerce and dCommerce across all customer channels."
In related news Tuesday, the auction aggregator Bidder's Edge Inc. canceled its plans to be acquired by OpenSite. In February, Bidder's Edge CEO James Carney and OpenSite officials would not reveal financial details because OpenSite was in a quiet period due to a public offering.
Though Bidder's Edge is being sued by eBay Inc. (EBAY), which alleged that its search engine infringes on the auction titan's intellectual property, Bidder's Edge Marketing Director Nick Godfrey said the abandonment of the acquisition had nothing to do with the legal troubles.
"They recently changed their tact, and that fell outside of the arrangement we had been discussing," Godfrey told InternetNews.com. "So it didn't make sense to go ahead and follow through with it. It wasn't something we planned on, but it didn'tend on a bad note."