Jive Software (Jive Software, Inc., NASDAQ: JIVE: $5.325), one of the leading enterprise communications and collaboration software companies, recently announced that it has entered a definitive agreement to be acquired by private equity firm ESW Capital LLC (through its affiliate Wave Systems) for $462 million.
The acquisition will make Jive a part of the Aurea Inc., the company behind some of the world’s greatest customer experiences. Austin-based ESW Capital paid $5.25 a share to purchase Jive Software, representing a 20 percent raise over the average of Jive Software’s closing stock price for the three months ending on April 28, 2017.
Enhancing Customer Engagement with Jive + Aurea
The advent of the cloud and digital transformation has changed the business landscape, paving the way for the creation of robust communications and collaboration solutions that enable businesses to easily connect and improve engagement or interaction amongst their employees, partners, and customers.
When it comes to unified communications (UC) and collaboration solutions, Jive Software is a trusted provider that has a history of delivering well-established solutions. Jive Software’s powerful and feature-packed engagement platform enables fluid communication and collaboration across systems of record, apps, and devices. By integrating Jive’s technology into Aurea’s platform, the company can help their clientele optimize customer and employee engagement, thereby improving business productivity.
"As the leader of the enterprise collaboration category, Jive has pushed the boundaries in how people work together for the past 16 years," said Elisa Steele, the Chief Executive Officer of Jive Software. "It's this focus and vision that has enabled us to deliver industry-leading product innovation, attract a top-notch customer base with recognized global brands and achieve record earnings and profitability in the last announced quarter. 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."
What Aurea Stands to Gain
Aurea Inc. specializes in brand loyalty software and services, transforming companies and growing client relationships through its cutting-edge customer engagement solutions and customer experience platform. Jive Software lets businesses engage directly with their employees, customers, and partners in a seamless way. From research and product discovery to purchasing and post-sales support, Jive Software empowers the workforce by delivering great experiences that drive brand advocacy and customer loyalty.
By bringing Jive Software into Aurea’s fold, the company will have the capability to integrate customer and employee interactions into a single collaborative platform that can be managed and monitored from a central management dashboard. As the leading provider of customer relationship management (CRM) software, Aurea has the worldwide delivery capability and the technology platform that enables organizations to build, execute, monitor, and optimize the end-to-end customer experience across a diverse range of industries.
Through the merger, Jive Software and Aurea will combine to bring the power of their respective customer engagement and collaboration platforms to the task of optimizing employee and customer experiences to achieve better business outcomes.
Scott Brighton, the Chief Executive Officer at Aurea, also said that the merger would enable Jive Software and Aurea to seamlessly meld customer experience and employee and customer engagement.
“Jive, in combination with Aurea, enables us to bring customer experience and employee and customer engagement together," said Brighton. "We look forward to helping Jive clients get the maximum value out of their investment with Jive.”
Additional Details about the Merger Agreement
Jive Software's Board of Directors has unanimously approved the merger agreement and suggests that the company’s stockholders tender their shares in the tender offer. The acquisition is estimated to be completed in June 2017. Following the closing of the transaction, Jive's common stock will be delisted from the NASDAQ and deregistered from the Securities Exchange Act of 1934. Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal advisor and Morgan Stanley serves as the financial advisor of Jive Software. Atlas Technology Group LLC acts as financial advisor while Cooley LLP serves as legal counsel to ESW Capital and its subsidiaries.
For further information about the acquisition, visit Jive Software’s official website.
About Jive Software
Jive Software is a global provider of communication and collaboration software solutions, enables employees to work better and improve business productivity by accelerating workplace digital transformation. With over 30 million users worldwide and customers in various industries, Jive Software has been recognized as a leader in the enterprise collaboration software market by distinguished analyst firms such as Ovum, Gartner Inc., and Aragon Research. Headquartered in Palo Alto, California, the company delivers industry-leading Customer Community solutions and Interactive Intranet that seamlessly connect people, information, and ideas to help businesses stay competitive.
Aurea Inc. (also known as Aurea Software Inc.) transforms businesses through a Client Success Program that ensures the company can achieve their goals, every step of the way. Headquartered in Austin, Texas, the company develops business process management and data integration software solutions. Established in 2012, Aurea has created a global software business by focusing on client success.