Oak Investment to Buy CRM Provider For $48 Million

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CRM vendor Pivotal Corp. will be acquired by Oak Investment Partners, a private equity fund, the companies said yesterday.


Oak Investment Partners will buy all 27 million outstanding shares of Pivotal, Vancouver, British Columbia, in a deal worth $48 million.


Also, Pivotal will merge with Talisma, a customer relationship management vendor in Kirkland, WA, and an Oak Investment Partners company. Talisma CEO Dan Vetras will be named chief operating officer, reporting to Pivotal president/CEO Bo Manning.


The new company, which will operate as Pivotal Corp., will offer products for the CRM mid-enterprise market. The combined company will have about 700 employees.


As a result of the merger, Pivotal will add e-service capabilities to the Pivotal CRM suite, expand and strengthen offshore capabilities and accelerate the development of new products.


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