Participate.com Acquires Neodesic
Updated · Mar 28, 2001
Chicago-based Participate.com, which provides online community-management software, said it has acquired all the assets of Evanston-based Neodesic, a developer of knowledge-sharing software in a stock-and-cash transaction. Terms of the deal were not disclosed.
Participate.com is combining Neodesic’s knowledge-management software with its community-management software to form the Community Knowledge Technology Platform (CKTP).
The CKTP will integrate with portal, customer service, sales force automation and exchange platforms to share information across other software platforms and exchange relevant, indexed content.
“Our customers are demanding an open-architecture, integrated, and full community solution,” said Alan Warms, president and chief executive officer of Participate.com. “Our Community Knowledge Technology Platform will be a natural complement to portal, sales force automation, exchange platforms, and eCRM solutions.”
Neodesic will be absorbed by Participate.com with only 25% its employees being retained. Ex-Neodesic CEO Charles Kwon will perform consulting duties.
Participate.com has received about $33 million in funding from investors including Breakaway Solutions, CEA Capital Partners, Diamond Technology Partners, European Webgroup, InterWest, Robertson Stephens, RS Investment Management, Seaport Capital, TL Ventures, and individual investors.
Reprinted from chicago.internet.com