Siebel Systems acquires Irish software company

Seibel Systems will pay $70 million in cash for Eontec, which sells customer service applications for banks.

Alorie Gilbert
Alorie Gilbert Staff Writer, CNET News.com
Alorie Gilbert
writes about software, spy chips and the high-tech workplace.
Siebel Systems has bought software maker Eontec for $70 million in cash, the companies announced on Tuesday. Eontec, based in Dublin, Ireland, sells customer service applications for retail banks. Siebel, which specializes in customer information systems, said the acquisition expands the capabilities of its software to streamline customer interactions at branch tellers, automatic teller machines, and Internet banking sites.

Siebel, based in San Mateo, Calif., said the transaction will result in a one-time charge in the second quarter of $3 million to $7 million, reducing second-quarter earnings by up to a penny a share. Siebel will pay Eontec shareholders up to an additional $60 million in cash next year, based on financial milestones.