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PeopleSoft extends customer assurance

Company announces an extension of its customer assurance program, a contract clause offered to firms concerned about Oracle's hostile takeover bid.

PeopleSoft announced on Tuesday an extension of its customer assurance program, a contract clause offered to companies concerned about Oracle's hostile takeover bid. PeopleSoft extended the program to Dec. 31, the expiration of Oracle's tender offer. The program had expired on Sept. 30.

The controversial program guarantees PeopleSoft customers will receive a refund on the cost of their software license if Oracle, within four years of acquiring PeopleSoft, discontinues or materially reduces its support services for PeopleSoft's software.