Peregrine Systems Buys Smaller Rival
Asset-management software company Peregrine Systems Inc. today agreed to buy rival Remedy Corp. for $1.08 billion in cash and stock to gain access to its small and mid-size customers. Peregrine's software is also used by businesses to exchange goods, while Remedy makes help-desk and customer-service programs. Peregrine gains about 5,000 new customers through the purchase. “We know this is a relatively