Pivotal Buys MarketFirst
Is the long-forecasted consolidation of the CRM software industry picking up again?The long-forecasted consolidation of the CRM software industry showed signs of picking up again after Pivotal Corp. on Thursday announced plans to acquire marketing automation software vendor MarketFirst Software Inc. Under terms of the agreement, Pivotal will exchange shares of its common stock for all the issued and outstanding securities of privately-held MarketFirst. The value of the deal was not disclosed. The acquisition will add marketing automation technology to Vancouver, British Columbia-based Pivotals suite of sales and customer service applications targeted at the mid-market. The company previously had relied on partnerships with other vendors, such as E.piphany Inc., to provide this technology.
Pivotal president and CEO Bo Manning said in a statement that mid-sized customers are increasingly looking for marketing technologies to increase revenue and customer loyalty and decrease the costs of customer acquisition.