Peregrine Buys Rival
Peregrine Systems will buy Remedy, a competing maker of helpdesk and customer relationship management software, in a deal valued at about $1.1 billion. San Diego-based Peregrine, which sells asset management software, says that by acquiring Remedy it will broaden its potential customer base to small and midsize businesses.
MS Exec Departs
Paul Gross, who heads Microsofts wireless strategy, will leave the company next month. Gross, senior vice president of Microsofts mobility group, has overseen development of its wireless strategy and products, including the Pocket PC handheld operating system.
AOL Lands in China
America Online last week announced a $200 million joint venture with Legend Holdings, a Chinese PC maker and online service provider, to develop interactive services for Chinese consumers. Each company said it will contribute $100 million over time to the venture. Legend will own 51 percent of the venture, and AOL will have 49 percent equity.