SuccessFactors, developer of business execution software for companies of any size, announced on Monday that it has purchased enterprise social software developer CubeTree.
As part of the deal, SuccessFactors is acquiring CubeTree for $20 million in SuccessFactors stock in addition to a contingent cash earnout of up to $30 million in three years, bringing the value of the total consideration to $50 million.
CubeTree, which has raised $11.5 million in venture capital funding from InterWest Partners and Trinity Ventures, provides an on-demand enterprise collaboration suite. The suite, which comes in free and premium versions, largely resembles the microblogging service popularly provided by Twitter except that it is built for the enterprise setting.
Users can post brief 140-character messages to inform colleagues of their status and, like on any respectable social site, connected users can comment on the posted message. The '@' sign is employed in the style of Twitter, where it is used immediately preceding someone's name to address them. Also, CubeTree gives users a fair amount of control over their feed, which lists updates from people one follows, with a customizable feed filtering system.
Finally, a great deal of CubeTree's strength comes, not only from its built-in wiki and blog tools, but also from easy integration with essential third-party applications like Delicious, Google Docs, Salesforce, Twitter, and more.
As a company striving to provide "integrated, on-demand Business Execution Software suite for companies of every shape and size," SuccessFactors will greatly benefit from this acquisition. Its service is already used by over 3,000 companies, but every company can benefit from social right now. The social experience is rapidly becoming an essential aspect not only of personal Internet use but also of business efficiency and employee interaction.
Both companies are mum on details right now, but SuccessFactors plans on discussing the new acquisition more closely at SuccessConnect, the SuccessFactors Global Customer Conferences taking place in New York City on May 10th & 11th and San Francisco on May 17th and 18th.
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SuccessFactors provides state-of-the-art Performance & Talent Management solutions that help organizations of every size and category realize their potential through their talent. Serving customers in 156 countries and 22 languages - 3+ Million employees at 1,750 organizations - has helped us better grow companies like yours with the insights we've learned along the way.
With a customer-focused ethic that is our single most important and recognized quality, we have worked to achieve a growth rate 3x that of our nearest competitor. It's also helped us earn nearly 100% customer referenceability and become one of the most widely recognized Performance & Talent Management solutions on the planet.
Simply stated, SuccessFactors works every day to help companies just like yours achieve tangible and measurable results with Performance & Talent Management initiatives that use the latest research, the smartest technology, and the most secure systems on the planet.
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CubeTree's collaboration suite helps companies create private social networks with features like profiles, activity feeds and microblogging. Your company's CubeTree network is free for any number of employees. CubeTree is hosted, so there is no hardware or software to maintain or install.
To help you collaborate better, applications like wikis, microblogging, blogs, polls and chat are integrated with CubeTree's social networking platform and included for free. CubeTree has built-in integrations to a variety of systems, from consumer software like Twitter to enterprise applications like ERP, CRM and Google Apps. Using CubeTree's comprehensive REST-based API, you can also integrate any of your enterprise systems with CubeTree.
Designed for enterprises ranging from start-ups to Global 500 companies, CubeTree is private and secure, ensuring a company's proprietary files, images, updates and internal communications remain confidential. Only employees with the same email domain can access their company's CubeTree network, and every page request is securely served via HTTPS. In addition to empowering employees, CubeTree also includes controls for HR and IT administrators. For more information, visit http://www.cubetree.com/.
