BANGALORE: The US-based business software firm PeopleSoft Inc and India's
Hexaware Technologies Ltd. said on Tuesday that they had signed an agreement,
under which Hexaware would implement PeopleSoft solutions. "Through this
relationship, Hexaware will offer consulting, implementation and integration
services around PeopleSoft solutions to mutual customers," the firm
officials said in a statement.
PeopleSoft makes a wide range of software modules to run various aspects of
businesses like payrolls, human resource management, and customer relations and
supply chain management. PeopleSoft's solutions compete mainly with those made
by Germany's SAP AG and Oracle Corp.
The Chennai-based Hexaware, which has about 800 employees, has experience in
implementing business software, and has proprietary "connectors" which
help diverse applications talk to each other. It also has a large team to mix,
match and service applications. "We provide the glue to integrate
applications," said Hexaware executive director P K Sridharan.
The board of privately held Hexaware, will meet soon to consider the merger
of the software division of Aptech Ltd with itself. Hexaware and Aptech, which
specializes in software education, have a common chairman and founder, Atul
Nishar.
Price target raised
Meanwhile, in New York leading analysts firm, JP Morgan has announced that
it had raised its share price target for PeopleSoft Inc. on Tuesday after the
e-business software maker rolled out its new Internet sales and customer service
offering.
In a research note, JP Morgan said it raised the 6-month price target to $48
from $37. PeopleSoft stock was trading up $2.48 at $43.19 on the Nasdaq Tuesday
morning. PeopleSoft, which claims the distant second spot in the fast-growing
customer relationship management (CRM) software sector dominated by Siebel
Systems Inc., said it will ship its Web-based CRM software to customers at the
end of June.
"Though Siebel Systems has a commanding lead that doesn't look
threatened, PeopleSoft can now be much more aggressive in its installed base and
cross-sell more," said the JP Morgan note.
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