FatWire Picks Up Divines CM Business
FatWire acquired Divine's content management software business at bankruptcy auction.FatWire Software Corp. announced Tuesday that it has acquired Divine Inc.s content management software business at bankruptcy auction. FatWire, which develops its own content management software under the UpdateEngine brand, as well as the Spark portal content management application, gets Divines Content Server and Participant Server products and their combined 300 customer accounts. Terms of the deal were not disclosed, though it was funded by Saratoga Partners, a New York private equity firm. FatWire is a privately-held company also based in New York. It was launched in 1996.
Divine, a Chicago-based company formed from the acquisition of more than a dozen Internet-related software and services companies, filed for bankruptcy protection in late February. Divine had completed its initial public offering in July 2000 after starting life as a venture capital firm, Divine interVentures Inc., in 1999.