Software Giant to Buy Youcentric
DENVER (AP) _ Business software giant J.D. Edwards & Co. said Wednesday it will buy Youcentric Inc. for $86 million in stock and cash.
Privately held Youcentric, based in Charlotte, N.C., makes customer relationship management software for communication among customers, sales partners, employees and suppliers. Its Java-based programs link desktop computers, cell phones, palm devices and pagers via the Internet.
J.D. Edwards CEO Edward McVaney said the market for customer relationship management software is expected to grow up to 29 percent annually in the next five years.
The deal requires approval by regulators and was expected to be completed within 90 days.
At midday Wednesday, J.D. Edwards stock was trading at $8.46, down 2 cents, on the Nasdaq Stock Market.
On the Net:
J.D. Edwards & Co.: http://www.jdedwards.com/
Youcentric Inc.: http://www.youcentric.com/