NetSuite, Inc. Acquires OpenAir for $26,000,000
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3bd3835f-b2c5-4099-b87d-aaada0415165&Preview=1 -
Date
6/2/2008 -
Company Name
OpenAir -
Mailing Address
211 Congress St. Boston, MA 02110 -
Company Description
OpenAir is a leading provider of Software-as-a-Service (SaaS) services automation management software. Offering both Professional Services Automation (PSA) and Project Portfolio Management (PPM) solutions, OpenAir provides project-based organizations and firms the tools they need to help grow their businesses quickly and profitably. -
Website
http://www.openair.com -
Transaction Type
M&A -
Transaction Amount
$26,000,000 -
Transaction Round
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Proceeds Purposes
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M&A Terms
NetSuite has agreed to pay approximately $26 million in cash, net of cash on the balance sheet of OpenAir. In addition, at closing NetSuite will assume approximately $5 million of restricted stock units that will be held by the employees of OpenAir and which will continue to vest through mid-2010.
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