Jive Software has announced that it has been acquired by ESW Capital and Wave Systems to become part of the Aurea family of companies.
Enterprise collaboration provider Jive will collaborate with Aurea as it provides its technology platform and worldwide delivery capability to enable companies to build, execute, monitor and optimise the end-to-end customer journey across a diverse range of industries.
This will enable Jive to be integrated into Aurea’s customer experience management platform, which then gives Aurea a tool to create internal and customer-facing communities, a key piece in today’s customer service environment.
Aurea will also gain access to Jive’s customer base, which includes T-Mobile, Schneider Electric, McAfee and EMC.
Elisa Steele, CEO, Jive said: “As the leader of the enterprise collaboration category, Jive has pushed the boundaries in how people work together for the past 16 years.
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“It’s this focus and vision that has enabled us to deliver industry-leading product innovation, attract a top-notch customer base with recognised global brands and achieve record earnings and profitability in the last announced quarter.”
The transaction, which is valued at $462 million, is said to represent a premium of 20 percent to the average of Jive’s closing stock price during the three months, which ended on April 28, 2017.
The deal will take Jive from public to private, enabling it to move forward with plans for growth.
Rob Bellmar, EVP of business operations, West’s Unified Communications Services said: “Demand for UC infrastructure, applications and managed services is rapidly growing. In fact, the string of recent mergers and acquisitions is likely a by-product of a thriving, innovative and overly crowded market.
“Many of the vendors that folded or became the target of acquisitions didn’t have the resources to address these shortcomings on their own.”
Steele said: “With Jive and Aurea coming together, we can deliver the superior end-to-end employee and customer experience companies require in today’s digital landscape.”