Siebel Scoops Rival Janna For $1.4B

High-flying Toronto-based Janna Systems Inc. (Janna), which provides customer relationship management software with a particular focus on institutional financial services sector, has been acquired by its larger US rival, Siebel Systems, for $1.44 billion in a deal announced on September 11, 2000. Janna has been one of the top performers on the TSE this year, with its shares rising 263 per cent.

The transaction will be completed by way of a plan of arrangement requiring shareholder and court approval and is expected to close in mid-November, 2000.

The Torys team acting for Janna includes Peter Ballantyne, Kevin Morris, Mike Pickersgill, Tyler McNamee, Corrado Cardarelli, Chris Medland, Jim Tory, Linda Plumpton and Jim Turner. Running the deal in-house for Janna is former Torys partner John Sheedy, who is now Vice-President, Operations, and General Counsel of Janna. Mayer, Brown & Platt in Chicago is providing advice to Janna on US legal matters. Siebel Systems is represented by Cooley Godward LLP of Palo Alto. Providing Canadian legal advice to Siebel are Edward Kerwin and G. Blair Cowper-Smith of McCarthy Tétrault.