Enterprise content management software vendor Stellent Inc has acquired a foothold in the hosting market with a modest $650,000 acquisition of the hosting application business that Active IQ Technologies has built around the Stellent Content Management System. The price paid represents approximately a year's recurring revenue of the assets acquired, and the deal is expected to be accretive to Stellent's earnings in 2004.
Stellent CEO Vern Hanzlik said that Active IQ’s methodology provided an alternative way to deliver its technology to vertical markets, which prefer a hosting environment. He said he is confident that Stellent could expand on its strategy to grow it into a substantial contributor to its overall business.
Source: Computerwire
