That was the good news. Financial details were not disclosed for either deal.
The bad news? Salomon Smith Barney reportedly cut its 12-month price target on BEA Systems Inc. as well as PeopleSoft Inc. (NASDAQ:PSFT) and Mercury Interactive Corp., (NASDAQ:MERQ) following the firm's Tech 2001 conference held in New York last week.
Analyst Gretchen Teagarden reduced the target on BEA to $21 from $26 a share "to reflect current market conditions," according to a Reuters report. BEA was trading up 35 cents to $14.01 at mid-morning.
Teagarden cut the target on shares of software testing products and services supplier Mercury Interactive to $32 from $44, and enterprise software firm PeopleSoft to $33 from $45 a share.
San Jose, Calif.-based BEA (NASDAQ:BEAS) said that the deal with Epicentric will involve integrating Epicentric's portal applications with the BEA E-WebLogic E-Business Platform to create a unified business portal solution.
Epicentric said the next versions of its Foundation Server applications will be integrated and optimized for the entire BEA WebLogic E-Business Platform, which is a single solution for enterprise and e-business applications that require commerce, portal, integration and Web Services.
BEA and Epicentric already have nearly 50 joint deployments of their respective solutions working together to provide advanced e-business infrastructure and business portal solutions.
The companies said that now they will share the expertise gained from these initiatives by collaborating on a "Reference Application for Delivering Enterprise Portal Management Systems." The Reference Application will offer proven strategies, best practices and implementation methodologies
Fundtech (NASDAQ:FNDT) will use BEA's Web Logic Enterprise product in the core product infrastructure that supports its flagship products: PAYplus CLS, Global PAYplus and ACCESS.pro.
The company said that with BEA's products running in the background, its solutions meet the most stringent requirements of their banking and financial institution clients.