Microsoft, in an effort to help bolster its Dynamics CRM line has acquired Parature, a customer service software company.
The deal is valued at USD100 million, according to the TechCrunch report. However, any confirmation about the deal terms have not been provided by either of the companies.
This will allow Microsoft to position its Dynamics CRM contact management application more efficiently and illustrate the growing importance of cloud-based sales, marketing and services applications.
Parature’s offering will remain cloud-based and will be available both as a standalone service, as well as a product integrated with Dynamics CRM (on-premises) and CRM Online. However, the team will be joining Microsoft as part of the acquisition.
Its platform includes tools for interacting with customers via live chat, e-mail, social media, a self-service knowledgebase, and mobile apps. Microsoft already has a partnership with Parature related to Dynamics.
Parature was founded as Cyracle Technologies Inc. in 2000 by five Cornell University students. Till date, the company has received USD 13.5 million in Series A in 2006 from Valhalla Partners and Sierra Ventures, followed in 2008 with a USD 16 million round from Accel Partners.
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