Thursday, October 16, 2003 - Siebel Systems to Acquire UpShot - Siebel Systems to Acquire UpShot: "Siebel Systems Inc. agreed to buy closely held UpShot Corp., a prominent software service, in the company's second move to adapt to a major change in the market.
Under the deal, Siebel agreed to pay up to $70 million for UpShot, of Mountain View, Calif. The price includes $50 million in cash when the deal closes and up to $20 million in 2003 and 2004 if certain financial milestones are met."
Marc Benioff, chief executive officer of, asserted that the deal means Siebel is "killing" the UpShot product line, and reflects the fact that Siebel's CRM OnDemand "does not exist."