Jive Acquires Proximal Labs
Palo Alto, CA-based Jive Software, which makes social business applications, said yesterday that it has acquired Proximal Labs, also of Palo Alto. Founded last year, Proximal is developing analytics software that connects people with similar interests based on their social media activity; Jive plans to build Proximal’s technology into the next release of its own social business platform. The terms of the acquisition were not disclosed. Jive has raised $57 million in venture backing from Sequoia Capital and Kleiner Perkins Caufield & Byers.