Staffware plc, a UK-based software firm engaged in the process workflow industry, announced Friday that it has acquired Arlington, Texas-based CRM solutions provider MarketForce in a $20 million stock and cash deal.
The acquisition will allow Staffware to extend its workflow process technologies into the CRM application area, where it predicts annual growth of 45 percent, the company said. It is Staffware’s first acquisition in the United States.
Staffware’s software is linked to over 4,500 Unix and NT servers around the globe. MarketForce, its new acquisition, had revenues of $2.2 million in 1999 and employs 34 people. The terms of the acquisition include deferred shares, which will be issued based on conditions related to technology developments stipulated to in the contract.