Publicly-traded enterprise collaboration vendor Jive (NASDAQ:JIVE) announced on May 1 that it is set to be acquired by Wave Systems, which is an affiliate of ESW Capital LLC. Jive shareholders will get $5.25 per share, with a total enterprise value for the transaction coming in at $462 million. The deal is expected to close in June 2017.
Jive had been set to publicly report its first quarter fiscal 2017 financial results on May 10. For fiscal 2016, Jive reported a record $204.1 million in revenue up by 4 percent over fiscal 2015. The company also narrowed its losses during 2016, reporting a net loss of $14 million, down from a 2015 net loss of $34.9 million. Jive had forecast first quarter 2017 revenue to be in the range of $50 million to $51 million
Jive's product portfolio includes several different solutions to help enterprise collaboration efforts. The Jive-n platform is a local intranet based collaboration platform, while Jive-x is a customer community software offering.
ESW Capital, LLC and its affiliate Wave Systems plans on integrating Jive with the group's Aurea family of companies.
"Jive, in combination with Aurea, enables us to bring customer experience and employee and customer engagement together," Scott Brighton, CEO of Aurea, said in a statement.
Aurea bills itself as a customer experience platform vendor.
"As the leader of the enterprise collaboration category, Jive has pushed the boundaries in how people work together for the past 16 years," Elisa Steele, CEO of Jive, said in a statement. "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."
Sean Michael Kerner is a senior editor at EnterpriseNetworkingPlanet and InternetNews.com. Follow him on Twitter @TechJournalist.