Peregrine to acquire software rival for $1 billion

Summary:Aiming to tap the vast market of small to midsize businesses, software maker Peregrine Systems on Monday said it has agreed to acquire software provider Remedy in a deal valued at around $1.08 billion in cash and stock.

Aiming to tap the vast market of small to midsize businesses, software maker Peregrine Systems on Monday said it has agreed to acquire software provider Remedy in a deal valued at around $1.08 billion in cash and stock.

San Diego, Calif.-based Peregrine provides inventory management and purchasing software intended to help companies manage systems such as information technology, telecommunications and transportation fleets. The company, which also provides software for corporate help desks, said it plans to fold Remedy's core line of CRM (customer relationship management) software and other products into its own, in an effort to sell customers a broader application suite. --Melanie Austria Farmer, Special to ZDNet News

Topics: Enterprise Software, Software

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