Callidus Software acquires Webcom
Callidus Software Inc. (Pleasanto, CA, USA), the provider of Sales Performance Management (SPM), has acquired Webcom Inc. (Milwaukee, WI, USA), a provider of SaaS-based product configuration, pricing, quoting, and proposals management software solutions.
Pursuant to the terms of the Agreement, the aggregate consideration to acquire Webcom consisted of approximately $9.2 million in cash, including payment for Webcom’s cash and accounts receivable of approximately $1.0 million as of the closing date, subject to final adjustments as set forth in the Agreement. A portion of the consideration is subject to a holdback in respect of the Webcom equity holders’ indemnity obligations to Callidus. In addition, Callidus may pay up to another $1.75 million in cash earn-out consideration based on Webcom attaining certain financial targets.
“Webcom Inc. is a leading multi-tenant SaaS solution for CPQ – Configuration, Pricing, and Quoting, and Collaboration. This acquisition expands our value proposition for sales forces into CPQ, which doubles our total addressable market for our overall product suite,” said Leslie Stretch, President and CEO, Callidus Software. “Our customers demand easy to use SaaS solutions that address more of the needs of their sales forces. Webcom makes the vital Configure, Price, and Quote processes easier, more accurate, and faster. The solutions can be used anywhere, anytime, and on any device. The acquisition adds approximately 120 SaaS customers, bringing Callidus’ customer base to over 800 clients on some form of recurring plan. Webcom dramatically increases our cross-selling opportunities and expands our partner eco-system. The solution will be sold alongside our fast growing core SPM SaaS business, which recorded over 30% growth in the first half of this year.”
Webcom Inc. provides a 100% multi-tenant, SaaS solution that simplifies and accelerates selling of all types of products and services. Requiring only a browser, Webcom enables business users to quickly configure, price, quote, propose, and sell solutions, anytime, anywhere. The solution suite specializes in boosting sales through faster, more accurate quotes, collaborative-based selling, and increased profit margins across companies with simple product catalogs all the way to complex, multi-channel sales networks.
“Webcom Inc. CPQ and Collaboration tools are multi-tenant SaaS solutions that perfectly complement Callidus core offerings. CPQ is a hot market and the combination with Callidus is a huge differentiator,” said Aleks Ivanovic, CEO & Founder, Webcom. “Callidus’ global reach, coupled with its dedication to SaaS and mobile innovation, means that we are even better positioned to help customers around the world present and sell their products in the fastest and most effective way possible.”
Webcom’s solutions are used by top companies from around the world including ABB Ltd., Technogym, Fuji Electric Group, Atlas Copco AB, and NEC Corporation.
Morgan Keegan served as the exclusive financial advisor to Callidus Software in this transaction.
Source: Calladius Software