Broadbase to buy Servicesoft for $645 mln in stock
MENLO PARK, Calif., Sept. 18 (Reuters) - Broadbase Software Inc. (NASDAQ: BBSW), a maker of analytic and marketing software, said on Monday it would buy privately held Servicesoft Inc., a provider of e-service solutions, for around $645 million in stock.
Broadbase, headquartered in Menlo Park, Calif., said the deal will allow it to provide a closed-loop platform for customer interactions across all touch points, whether sales, marketing or service.
Under terms of the transaction, Broadbase said it will issue in exchange for all securities of Servicesoft, a combination of around 35.1 million shares of its common stock and options and warrants to purchase its common stock, representing about 36.5 percent of the combined company on a fully diluted basis. Shares of Broadbase fell $1-5/16 on Monday to close at $18-3/8 on Nasdaq.
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 |
