CEO Richard Johnson says Foot Locker is focused on turning around the online fortunes of its Eastbay brand.
E-commerce software maker E.piphany Inc. will acquire Octane Software Inc. in a stock swap valued at about $3.2 billion. Both companies sell customer relationship management applications, and the transaction highlights the growing interest in products and services that help manage customer interactions.
Under the terms of the deal, E.piphany expects to issue about 12.8 million shares of its common stock to shareholders of Octane, a maker of software that manages sales and customer service and support.
"The complementary nature of our business philosophies, vision, management team, employees, products, partnerships and vertical industries is remarkable,'' Roger Siboni, president and chief executive of E.piphany, said in a statement.
E.piphany, based in San Mateo, Calif., went public in September. The acquisition of Octane follows E.piphany's announcement in November that it would acquire privately held RightPoint, which helps coordinate customer communications, in a $383 million stock swap.