Wednesday, September 22, 2004 - PeopleSoft, IBM Create Alliance - PeopleSoft, IBM Create Alliance "PeopleSoft Inc. has forged a five-year technology and marketing alliance with International Business Machines Corp., another indication of how Oracle Corp.'s hostile takeover bid for PeopleSoft is reshaping software industry strategies.
PeopleSoft, based in Pleasanton, Calif., and IBM, Armonk, N.Y., put a $1 billion price tag on the partnership, but details remained sketchy.
From PeopleSoft's side, the agreement is intended to blunt the recent momentum of SAP AG of Germany, the leader in the market for corporate software to manage financial reporting, human resources and other functions. For IBM, the deal serves as a counterweight to Microsoft Corp.'s recent agreements with SAP.
Both PeopleSoft and IBM are eager to thwart Oracle, which competes with both companies."

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