Not Jive Software but Utah based Jive Communications is being acquired by LogMeIn for $342 million in cash plus up to $15 million based on reaching specific milestones in the next two years.
“Upon closing, the deal will accelerate LogMeIn’s overall Unified Communications and Collaboration (UCC) strategy and bolster LogMeIn’s popular collaboration portfolio, bringing together LogMeIn’s market-leading offerings like GoToMeeting, GoToWebinar, OpenVoice, and join.me with Jive’s innovative and award-winning UC products.” [source]
That press release is keyword stuffed!
LogMeIn already owns GoToMeeting and join.me web conferencing and Grasshopper, auto attendant in the sky. This will get them the dial-tone piece that they lack.
Jive is a homebrew softswitch with revenues of approximately $80M. (I thought they had $108M, but the Desert News corrected me.) They were big in the channel with the well-known green vehicle in their booth at shows. Jive took in just $31M in funding since it was founded by CEO John Pope in 2006.
That is a little more than 4x revenue. It is a great exit for a company with 20K customers.
It also goes to show that some of the UC mergers will not be slapping two mediocre UCaaS players together. It will be someone who will treat them as another line of business, like Grasshopper is for LogMeIn.
Grasshopper was acquired by Citrix, who then sold the GoTo division to LogMeIn for $1.8B in 2016 (but included Grasshopper in that basket).