Business execution software provider SuccessFactors has agreed to acquire business social networking application provider CubeTree for $20m in SuccessFactors stock at closing plus a contingent cash payment three years from closing to bring the value of the total consideration to $50m.
CubeTree makes social business software that integrates communication, content sharing and collaboration within a single platform. It offers executive dashboards that provide insights into the pulse of how a company is executing everyday.
SuccessFactors said that the acquisition will strengthen its core business execution software strategy and will directly align with its mission of helping companies get work done.
The company said that it is putting social software to work to accelerate business execution for all companies through the combination of CubeTree innovation with its Business Execution platform.
Earlier in February, SuccessFactors has entered into a definitive agreement to acquire Inform Business Impact, an analytics and workforce planning applications developer for $40.5m in cash and stock.
Lars Dalgaard, CEO of SuccessFactors, said: CubeTree is key to accelerating SuccessFactors’ BizX opportunity and expand our leadership. Putting the best Enterprise Social Software product, on our most secure, and most scalable and deployed Enterprise Cloud platform will be irresistible to organisations wanting to tap into Social Software. We believe this is everyone.
“With CubeTree’s powerful social business platform, you get something that’s never happened in enterprise software – a platform that can literally change the way the world works. We’ll start by introducing it immediately to our 8 million deployed seats.
The acquisition is expected to close in Q3 2010, subject to customary closing conditions. The contingent payment is subject to holding period and other conditions.
