CNET también está disponible en español.

Ir a español

Don't show this again


VC firm to buy Pivotal

Venture capital firm Oak Investment Partners has agreed to purchase software maker Pivotal for $1.78 per share, or $48 million, in cash. Under the agreement, Pivotal will merge with privately held Talisma, and its shares will no longer be publicly traded. Pivotal, based in Vancouver, British Columbia, makes applications designed to streamline corporate sales, marketing and customer service tasks. Talisma, based in Kirkland, Wash., specializes in customer service software. The combined company, which will be called Pivotal, will compete with Best Software, Epiphany, Kana, Microsoft and Onyx Software in the market for customer relationship management (CRM) systems for small and midsize companies. Pivotal expects to complete the deal by the end of the year.

Like many CRM companies, Pivotal has seen sales decline in recent years. The company reported a net loss of $27.6 million for its fiscal year ended June 30. According to research firm Gartner, worldwide CRM software sales declined in both 2002 and 2001, after several previous years of scorching growth.