Applix, Inc., a global provider of enterprise-wide business performance management solutions, announced the sale of its customer relationship management (CRM) business to Platinum Equity, LLC, a global organization specializing in the acquisition and strategic operation of mission-critical technology companies.
Under the agreement, Platinum Equity is acquiring Applix’s CRM business, related intellectual property and customers. The transaction will allow Applix to focus all of its resources on its core business in the rapidly growing business performance management (BPM) market, while enabling Platinum Equity to immediately increase its presence and customer base in the CRM market. Total consideration for the transaction was approximately $8.75 million, consisting of $5.75 million in cash and the assumption of approximately $3 million in net liabilities by Platinum Equity.
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