Campbell / Austin, US, June 12 — After the terms of an acquisition of Jive Software by Aurea have been submitted on May 1, 2017, the two companies today closed the deal successfully. For $5.25 per share in an all-cash sale, this deal is worth a total of $462m. Aurea is part of the ESW Capital Group.
What does Jive do?
Jive Software is primarily known for providing enterprise-grade social collaboration solutions. Once customers deployed their social network internally, it would then act as “Corporate Facebook” with several options for communication, teamwork, collaboration, project management, file sharing and other aspects. Of course, next to on-prem plans, they also offer their product in the cloud.
We have been previously mentioning them in our article “Overview of Social Collaboration Solutions for Enterprises” in 2015 and were not wrong about a positive projection of their success.
Unhappy shareholders
Some of the Jive Software stakeholders filed complaints about the price per share being too low. On May 17, 2017, Cara Mannion reports on Law360, “Shareholder Andrew Yoshimura argued that the cash transaction is replete with overly restrictive deal protections that will deter competing bids, all the while lowballing Jive’s recent performance with a price tag of $5.25 per share”.
Regardless of such feedback, Jive Software agreed to the offer as announced.
Leadership insights
“Jive is a market leader with an incredible impact on the way people work together in today’s digital age,” said Elisa Steele, CEO of Jive. “We are reminded of this each day in the success stories we hear from our innovative customers, who represent some of the strongest, most powerful brands in the world. This kind of deep engagement – where employees, customers, and partners come together through collaboration – will be a critical driver to broaden the customer experiences Aurea delivers to market. It’s been my great honor serving as Jive’s CEO and I salute the Jive team who helped transform Jive to lead with cloud, drive to profitability and achieve record revenue for the company.”
“Jive’s industry-leading employee and customer engagement solutions will play a foundational role in helping Aurea deliver transformational customer experiences for our clients,” said Scott Brighton, CEO of Aurea. “Together, Aurea and Jive will transform the customer experience through far deeper engagement with employees, partners, and customers. I’m excited to welcome Jive customers and employees to the Aurea family, and look forward to taking this significant step forward together.”
YouTube: What is Jive Software?
Photo credit: Jive Software
Source: Scott Brighton via email / Jive press release / Cara Mannion (Law360)
Editorial notice: Quotes have been provided as part of a public press release.
