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Message-ID: <6B75EF096AE0BE428B8CEDEA89C5F632783A1D@exchange01.lab49.com> · Thu May 03 09:24:51 2001 UTC-05:00

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VENTUREWIRE
Thursday, May 03, 2001

o PeopleSoft to Buy SkillsVillage for $32M in Cash and Stock

PLEASANTON, Calif.(VENTUREWIRE) -- PeopleSoft, a publicly held company
that provides electronic business applications, announced that it will
acquire SkillsVillage, a provider of enterprise applications and services
for sourcing, hiring and managing contract services, for $32 million in
cash and stock. A PeopleSoft spokesperson said PeopleSoft would rehire the

majority of SkillsVillage's 80 employees. Chris Wong, the CEO of
SkillsVillage will continue to head the company, which will operate as a
business unit of PeopleSoft. SkillsVillage, which was formed 1999, was
funded by Marc Andreessen, the founder of Loudcloud; Altas Ventures;
PeopleSoft; Sagebrook Technology; SAP Ventures; and Technology Partners.
The spokesperson said that PeopleSoft had a 4% to 6% stake in
SkillsVillage before the acquisition.

http://www.peoplesoft.com

http://www.skillsvillage.com

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©2001 Technologic Partners

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