Siebel Systems (Nasdaq: SEBL) on Monday announced a 2-for-1 stock split even as it unveiled plans to buy a privately-held vendor of e-commerce customization software.
After market close Monday, Siebel said it would buy OnLink Technologies for 3,706,564 shares of stock. At Monday's closing price of 164 3/16 for Siebel, the deal is worth about $609 million.
Also Monday, Siebel said it would carry out a 2-for-1 stock split, payable Sept. 8 for shareholders of Aug. 18 record. It would be Siebel's fourth stock split since going public.
Shares of Siebel rose to 166 in afterhours activity on the Island electronic communications network, immediately following the announcements.
OnLink's software provides recommendations, guidance and product customization for Internet shoppers. The technology would be integrated with Siebel's front office software for sales, marketing and customer service.
"This type of interactive selling and product configuration is not yet available on most eCommerce Web sites, but Siebel Systems intends to change that," said Thomas Siebel, chairman, CEO and founder of the company that bears his surname. "Through this acquisition, Siebel Systems intends to set a new standard for eCommerce and product configuration."
The companies expect the deal to close as a tax-free pooling of interests in the third quarter of this year. Venture investors in OnLink include including GE Equity, Sierra Ventures, Berkeley International Capital and Stanford University.>