CHARLOTTE–Siebel Systems Inc. (Nasdaq:SEBL) has acquired Eontec Limited, which makes banking software, in a deal worth at least $70 million to Eontec shareholders.

Irish-owned Eontec has North American headquarters in Charlotte. It has 130 employees worldwide. A Siebel spokesperson told Local Tech Wire all Eontec employees will join Siebel’s retail finance division. Siebel is headquartered in San Mateo, CA.

Patrick Brazel, Eontech chief executive officer, will lead the division.

Brazel said in a statement that “With Siebel’s retail banking solution enhanced by Eontec technology, banks can replace branch applications and infrastructure and replace branch applications with alternative channels such as the Internet, call center and ATM.”

Siebel said that under the terms of the deal, Eontec shareholders get $70 million in cash and up to an additional $60 million in earn-out payments during 2005 based on achieving revenue and contractual milestones.

Siebel said it plans to take a one-time $3 million to $7 million charge and expects the deal to reduce its second quarter earnings by a penny a share.

Leading financial services organizations worldwide that have standardized on Siebel Systems or Eontec banking solutions include: Abbey National, Allfirst Bank, Bank of America Corporation, Bank of Ireland, Barclays Bank, BMO Bank of Montreal, Canadian Imperial Bank of Commerce,, Commonwealth Bank of Australia, Development Bank of Singapore, First National Bank Omaha, Fleet National Bank, and Standard Chartered Bank.

Eontec
www.eontec.com