Menlo Park, Calif., Sept. 18, 2000 Broadbase Software, Inc., a provider of customer-focused analytic and marketing automation applications, announced that it has signed a definitive agreement to acquire privately held Servicesoft, Inc., a provider of intelligent e-service solutions. With this announcement, Broadbase reaches a new level of leadership in intelligent customer interactions by creating the industry's first integrated e-CRM suite that provides a single analytic and operational solution.
With this acquisition, Broadbase now provides a closed-loop platform for intelligent customer interactions across all touchpoints whether sales, marketing or service. Together, Broadbase and Servicesoft have more than 400 global e-business customers in financial services, retail, telecommunications, e-commerce and technology including Cisco Systems, BEA Systems, Fidelity Investments, IBM, Hewlett Packard, Motorola, United Airlines and Verizon.
Under terms of the transaction, Broadbase will issue in exchange for all securities of Servicesoft, a combination of approximately 35.1 million shares of its common stock and options and warrants to purchase its common stock, representing approximately 36.5 percent of the combined company on a fully diluted basis. The transaction will be accounted for as a purchase. The acquisition is subject to customary closing conditions including the approval of Broadbase's and Servicesoft's shareholders and regulatory approvals.
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