Internet-based software vendor, Niku Corp, said yesterday it would acquire Proamics Corp, a provider of back-office software for time and expense functions, project accounting and billing, in a stock deal valued at more than $40m.
Niku provides software which enables businesses to source, management and deliver professional services, including consulting, law, advertising, marketing and financial services, over the internet. Combined with Proamics the company will have more than 200 customers plus 325 employees at offices in Atlanta, Chicago, Amsterdam, Sydney and its headquarters in Redwood City, California. The deal is expected to close by the end of the year.
Niku said it planned to integrate Proamics software with its internet-based applications and its iNiku.com internet business center, a web portal that the company launched in May. Users can download software from iNiku.com to automate their businesses.
