SuccessFactors Acquires Social Software Vendor CubeTree
SuccessFactors is set to acquire ClubTree, a social software for businesses vendor. The deal is expected to close Q3 of 2010; SuccessFactors paid $20 million for the company as well as a contingent cash payment three years from closing, bringing the total to $50 million. SuccesFactors is a cloud-based software company that focuses on Business Execution Software.
This is SuccessFactors’ second acquisition of the year; they initially purchased Inform for $40.5 million in February. Inform was an analytics and workforce planning enterprise that SucessFactors strategically acquired to boost their market-lead Business Execution Software solution.
SuccessFactor plans on using CubeTree’s product knowledge to make their products and applications more social. SuccessFactors products currently focus on execution, business alignment and people performance.
CubeTree’s product suite is described as a Facebook and FriendFeed hybrid. On CubeTree, users can create a profile and access feeds. However unlike Facebook or FriendFeed, the profile data and feeds are focused around information and documents instead of profile pictures and status updates. CubeTree also offers collaboration tools like wikis, blogs and file sharing, that are integrated into the social network.
It will be exciting to see what social elements SuccessFactors integrates into its own collaboration suite by leveraging CubeTree technology. Social elements are being added to Business Software at an increasingly frequent rate. Suffice it to say, social tools are becoming the new business software imperative.
[Photo courtesy of nerdheist.]