E-commerce services provider Intraware said Monday it will acquire Janus Technologies in a $24.3 million stock deal.
Intraware (Nasdaq: ITRA) shares were up 3/4 to 16 7/8.
Janus Technologies sells tools and services that help companies better manage their IT assets, including budgeting, forecasting, software license compliance and management of leasing, contracts and vendors.
Company officials said it plans to build a Web-hosted version of Janus' IT asset management software applications once the acquisition closes at the end of August.
"Intraware has heard the comments of our customers over the last year that IT asset management is becoming an increasingly complex and difficult problem within corporations," said CEO Peter Jackson in a prepared release. "…With the addition of market-leading asset management capabilities from Janus Technologies, Intraware can provide online services to our customers every step of the way -- from initial product evaluations, procurement, deployment and e-learning to software compliance, configuration, leasing, and license management."
In its latest quarter, Intraware managed to hurdle the consensus estimate, posting a loss of $11.2 million, or 36 cents a share, on sales of $36.1 million.
Analysts expect it to lose 43 cents a share in its first quarter and $1.54 a share in the fiscal year.
Its shares moved up to a 52-week high of 99 in December before slumping to a low of 10 1/8 in May.
All five analysts following the stock rate it either a "buy" or "strong buy."