PeopleSoft, Unfazed, Announces 5-Year Pact With I.B.M.

Free registration required to read the article. “PeopleSoft announced a broad partnership with I.B.M. on Tuesday, in an attempt to show that it is moving forward aggressively despite the turmoil created by Oracle’s $7.7-billion hostile takeover bid.

PeopleSoft’s chief executive, Craig Conway, told more than 11,000 corporate customers gathered for its annual user convention that the deal with I.B.M. would help PeopleSoft customers adapt to changing technology. The deal, which has been in the works for several months, calls for a combined investment by the two companies of at least $1 billion over the next five years.

Since Oracle began its takeover effort in June 2003, Mr. Conway has said that the move was causing some customers to consider not buying PeopleSoft products, a situation that the company estimates has cost it more than $1 billion in lost revenue. The I.B.M. deal seemed intended to let customers know that PeopleSoft was moving ahead in spite of all this.”