PeopleSoft Acquiring SkillsVillage
Updated · May 03, 2001
"We see this as a terrific opportunity because SkillsVillage is a leader in the services space and accelerates us years ahead of the competition."
The combination of the two companies is expected to give PeopleSoft an edge in the online customer relationship management (CRM) and automated e-procurement sectors.
Pleasanton-based PeopleSoft specializes in CRM, supply chain management and enterprise management fields, while SkillsVillage is an application service provider (ASP) in automating services acquisition.
"We see this as a terrific opportunity because SkillsVillage is a leader in the services space and accelerates us years ahead of the competition," says Conway during a conference call to investors.
PeopleSoft says it added more than 50 new customers in the first quarter of 2001 and has always had a working relationship with Sunnyvale-based SkillsVillage.
"We’ve been working with PeopleSoft since we started the company so there are a lot of synergies that already exist. This is a natural," says SkillsVillage CEO Chris Wong.
Pending federal and stockholder approval, the acquisition is scheduled to close at the end of the month.
Michael Singer is a career coach, podcast host, and author to help you step into a career you're excited about. Currently, He is a coach and trainer helping entrepreneurs and executives achieve business and leadership success. He is also an award-winning business journalist focused on the intersection of technology, Big Data, Cloud, SaaS, SAP, and other trending technology.