Niku acquires Proamics
The professional Net services company acquires software developer Proamics in a stock deal valued at more than $40 million.
Through the deal, Niku, which enables businesses to manage and deliver professional services over the Internet, said it will fold Proamics' time and expense, accounting and billing software into the Niku product line.
The companies said adding Proamics' software will enable Niku to deliver capabilities to professional services firms including intellectual capital management, resource management, project management and better business development.
Niku said it plans to fold Proamics' capabilities into both its Internet-based business software and the iNiku.com Internet business center, a portal the company launched in May. As reported, iNiku.com serves as a resource pool, where users can gather information on professional services and use that information to help build their businesses. For instance, the portal offers product management applications as well as commerce services and tools to help businesses build a marketing strategy.
Combined with Proamics, Niku said it will have more than 200 customers and 325 employees in offices in Atlanta, Chicago, Redwood City, Calif., Amsterdam, Sydney and Toronto.
The deal is expected to close by the end of the year, the company said.