Business applications vendor PeopleSoft took aim at the customer relationship management (CRM) market on October 11 as it announced plans to buy Vantive, a maker of CRM software. The stock-for-stock deal, valued at $433 million, gives PeopleSoft a comprehensive electronic-business solution designed to help companies attract, serve, retain, and analyze their customers, a PeopleSoft spokesman said.
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Lowers Revenue Expectations Event Summary Enterprise resource planning vendor SAP announced on October 13 that it anticipates its 1999 revenues to be lower than initially expected. Following an analysis of third-quarter results, to be announced next week, SAP's board of directors said it abandoned expectations of a 20% to 25% increase in revenue and improved pretax profit margin of up to 1 percentage point. SAP's board said it is still hopeful the company can achieve revenue growth of between 15% and