content: <PAGE>
  
                        SECURITIES AND EXCHANGE COMMISSION
  
                              WASHINGTON, D.C.  20549
  
                                     FORM 8-K
  
                                  CURRENT REPORT
  
  
                        Pursuant to Section 13 or 15(d) of
                        The Securities Exchange Act of 1934
  
                                 December 1, 1999
  
                               ____________________
  
                 Date of Report (Date of earliest event reported)
  
                               SIEBEL SYSTEMS, INC.
  
                               ____________________
  
              (Exact name of registrant as specified in its charter)
  
            Delaware                     0-20725               94-3187233
  
        -----------------            ----------------       ------------------
  
  (State or other jurisdiction of       (Commission          (I.R.S. Employer
           incorporation                File Number)        Identification No.)
  
  
                              1855 South Grant Street
                               San Mateo, CA  94402
  
                               ____________________
  
                     (Address of principal executive offices)
  
                                  (650) 295-5000
  
                               ____________________
  
               (Registrant's telephone number, including area code)
  <PAGE>
  
  Item 2.  Acquisition or Disposition of Assets.
  
       Effective December 1, 1999, SE Acquisition Corp., a Delaware corporation
  ("Merger Sub") which was a wholly-owned subsidiary of Siebel Systems, Inc., a
  Delaware corporation ("Siebel"), was merged (the "Merger") with and into
  OnTarget, Inc., a Georgia corporation ("OnTarget"), pursuant to an Agreement and
  Plan of Merger and Reorganization (the "Reorganization Agreement") dated
  November 17, 1999 among Siebel, Merger Sub and OnTarget.  The description
  contained in this Item 2 of the transactions consummated pursuant to the terms
  and conditions of the Reorganization Agreement is qualified in its entirety by
  reference to the full text of the Reorganization Agreement, a copy of which is
  attached to this Report as Exhibit 2.1.
  
       In the Merger, each then-outstanding share of common stock ($.01 par value)
  (including all shares of common stock of OnTarget issued upon conversion of all
  convertible debt securities of OnTarget to purchase capital stock of OnTarget
  immediately prior to the effective time of the Merger (the "Effective Time"))
  were converted into the right to receive the "Applicable Fraction" of a share of
  common stock of Siebel.  The Applicable Fraction is the fraction having a
  numerator equal to 4,000,000 and a denominator equal to the sum of (i) the
  aggregate number of shares of common stock of OnTarget outstanding immediately
  prior to the Effective Time (including any shares that are subject to a
  repurchase option or risk of forfeiture under any restricted stock purchase or
  other agreement), and (ii) the aggregate number of shares of common stock of
  OnTarget purchasable under or otherwise subject to all options or convertible
  securities to purchase shares of OnTarget common stock outstanding immediately
  prior to the Effective Time (including all shares of OnTarget common stock that
  may be ultimately purchased under options to purchase OnTarget common stock or
  convertible securities to purchase shares of OnTarget common stock that are
  unvested or are otherwise not then exercisable).  Pursuant to the Reorganization
  Agreement, Siebel assumed outstanding options to acquire common stock of
  OnTarget in accordance with the terms of such option.  At the Effective Time,
  Merger Sub ceased to exist and OnTarget, as the surviving corporation in the
  Merger, became a wholly-owned subsidiary of Siebel.
  
       The Merger is intended to qualify as a tax-free reorganization under the
  Internal Revenue Code of 1986, as amended, and is expected to be accounted for
  as a pooling-of-interests.  A copy of the press release announcing the
  consummation of the Merger is attached hereto as Exhibit 99.1.
  
       OnTarget is a professional services firm that provides a complete
  curriculum of sales training programs, consulting services and field application
  tools to help companies achieve competitive advantage and strengthen
  relationships with customers and partners.
  
       Siebel is the world's leading supplier of Web-based front office software
  systems.  Siebel provides an integrated family of sales, marketing and customer
  service application software for field sales, customer service, telesales,
  telemarketing, field service, third-party resellers and Internet based
  eCommerce.
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  
           (a)  Financial Statements of Business Acquired.
  
           Not applicable.
  
           (b)  Pro Forma Financial Information
  
           Not applicable.
  <PAGE>
  
           (c)  Exhibits
  
           The following Exhibits are filed as part of this report:
  
  
        2.1       Agreement and Plan of Merger and Reorganization, dated November
                  17, 1999, by and among Siebel, Merger Sub and OnTarget
  
        99.1      Press Release of Siebel dated December 1, 1999
  <PAGE>
  
                                     SIGNATURE
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                                          Siebel Systems, Inc.
  Date:  December 14, 1999
  
                                               By:  /s/ Howard H. Graham
                                                  --------------------------------
                                                    Howard H. Graham
                                                    Senior Vice President,
                                                    Finance and Administration
                                                    and Chief Financial Officer
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text: SECURITIES AND EXCHANGE COMMISSION
  
                              WASHINGTON, D.C.  20549
  
                                     FORM 8-K
  
                                  CURRENT REPORT
  
                        Pursuant to Section 13 or 15(d) of
                        The Securities Exchange Act of 1934
  
                                 December 1, 1999
  
                               ____________________
  
                 Date of Report (Date of earliest event reported)
  
                               SIEBEL SYSTEMS, INC.
  
                               ____________________
  
              (Exact name of registrant as specified in its charter)
  
            Delaware                     0-20725               94-3187233
  
        -----------------            ----------------       ------------------
  
  (State or other jurisdiction of       (Commission          (I.R.S. Employer
           incorporation                File Number)        Identification No.)
  
                              1855 South Grant Street
                               San Mateo, CA  94402
  
                               ____________________
  
                     (Address of principal executive offices)
  
                                  (650) 295-5000
  
                               ____________________
  
               (Registrant's telephone number, including area code)
  Item 2.  Acquisition or Disposition of Assets.
  
       Effective December 1, 1999, SE Acquisition Corp., a Delaware corporation
  ("Merger Sub") which was a wholly-owned subsidiary of Siebel Systems, Inc., a
  Delaware corporation ("Siebel"), was merged (the "Merger") with and into
  OnTarget, Inc., a Georgia corporation ("OnTarget"), pursuant to an Agreement and
  Plan of Merger and Reorganization (the "Reorganization Agreement") dated
  November 17, 1999 among Siebel, Merger Sub and OnTarget.  The description
  contained in this Item 2 of the transactions consummated pursuant to the terms
  and conditions of the Reorganization Agreement is qualified in its entirety by
  reference to the full text of the Reorganization Agreement, a copy of which is
  attached to this Report as Exhibit 2.1.
  
       In the Merger, each then-outstanding share of common stock ($.01 par value)
  (including all shares of common stock of OnTarget issued upon conversion of all
  convertible debt securities of OnTarget to purchase capital stock of OnTarget
  immediately prior to the effective time of the Merger (the "Effective Time"))
  were converted into the right to receive the "Applicable Fraction" of a share of
  common stock of Siebel.  The Applicable Fraction is the fraction having a
  numerator equal to 4,000,000 and a denominator equal to the sum of (i) the
  aggregate number of shares of common stock of OnTarget outstanding immediately
  prior to the Effective Time (including any shares that are subject to a
  repurchase option or risk of forfeiture under any restricted stock purchase or
  other agreement), and (ii) the aggregate number of shares of common stock of
  OnTarget purchasable under or otherwise subject to all options or convertible
  securities to purchase shares of OnTarget common stock outstanding immediately
  prior to the Effective Time (including all shares of OnTarget common stock that
  may be ultimately purchased under options to purchase OnTarget common stock or
  convertible securities to purchase shares of OnTarget common stock that are
  unvested or are otherwise not then exercisable).  Pursuant to the Reorganization
  Agreement, Siebel assumed outstanding options to acquire common stock of
  OnTarget in accordance with the terms of such option.  At the Effective Time,
  Merger Sub ceased to exist and OnTarget, as the surviving corporation in the
  Merger, became a wholly-owned subsidiary of Siebel.
  
       The Merger is intended to qualify as a tax-free reorganization under the
  Internal Revenue Code of 1986, as amended, and is expected to be accounted for
  as a pooling-of-interests.  A copy of the press release announcing the
  consummation of the Merger is attached hereto as Exhibit 99.1.
  
       OnTarget is a professional services firm that provides a complete
  curriculum of sales training programs, consulting services and field application
  tools to help companies achieve competitive advantage and strengthen
  relationships with customers and partners.
  
       Siebel is the world's leading supplier of Web-based front office software
  systems.  Siebel provides an integrated family of sales, marketing and customer
  service application software for field sales, customer service, telesales,
  telemarketing, field service, third-party resellers and Internet based
  eCommerce.
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  
           (a)  Financial Statements of Business Acquired.
  
           Not applicable.
  
           (b)  Pro Forma Financial Information
  
           Not applicable.
  (c)  Exhibits
  
           The following Exhibits are filed as part of this report:
  
        2.1       Agreement and Plan of Merger and Reorganization, dated November
                  17, 1999, by and among Siebel, Merger Sub and OnTarget
  
        99.1      Press Release of Siebel dated December 1, 1999
  SIGNATURE
  
       Pursuant to the requirements of the Securities Exchange Act of 1934, the
  registrant has duly caused this report to be signed on its behalf by the
  undersigned hereunto duly authorized.
  
                                          Siebel Systems, Inc.
  Date:  December 14, 1999
  
                                               By:  /s/ Howard H. Graham
                                                  --------------------------------
                                                    Howard H. Graham
                                                    Senior Vice President,
                                                    Finance and Administration
                                                    and Chief Financial Officer