Jive Software sold to private equity firm

Jive Software, which has large operations in downtown Portland and deep roots in the Rose City, is being acquired by private equity firm ESW Capital for $462 million.

The deal is expected to close in June. Jive shareholders will be offered $5.25 in cash per share, a 20 percent premium over the stock's average closing price for the three months ended April 28.

The deal will make Jive part of Aurea, an ESW portfolio company. Aurea makes software that helps customers better connect with clients. Aurea has 1,500 customers globally such as Disney, British Airways, Bank of America and MetLife.

With Jive, the company will “make employee and customer engagement and collaboration a key pillar of our customer experience vision,” said Aurea CEO Scott Brighton in a blog post.

Jive’s board has already approved the deal.

“As the leader of the enterprise collaboration category, Jive has pushed the boundaries in how people work together for the past 16 years. It’s this focus and vision that has enabled us to deliver industry-leading product innovation, attract a top-notch customer base with recognized global brands and achieve record earnings and profitability in the last announced quarter,” said Elisa Steele, CEO of Jive, in a written statement.

“With Jive and Aurea coming together, we can deliver the superior end-to-end employee and customer experience companies require in today’s digital landscape.”

While Jive was based in Portland for much of its existence, it moved its headquarters to Silicon Valley just before its 2011 IPO. It still has about 300 employees locally.

Portland is Jive’s primary research and development site. It also houses marketing, tech support, professional services, sales, its general administration operations and key executives including CFO Bryan LeBlanc.

The Portland Business Journal is a KGW News partner.

© 2017 KGW-TV


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