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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Consona Corp. announced today it would acquire the enterprise-software-related assets of Redwood City, Calif.-based SupportSoft Inc. for about $20 million in cash.
Consona, formerly Made2Manage Systems Inc., is a private company owned by Waltham, Mass.-based venture capital fund Battery Ventures VI LP and Chicago-based private equity firm Thoma Bravo LLC.
The transaction should be completed during the second quarter, the company said.
Consona is a leading provider of customer-relationship-management software and enterprise-resource-planning software with more than 4,500 business customers.
SupportSoft employs about 135 people in its enterprise software division in California. Most of them will be offered jobs with Consona after the deal closes. Eventually, the acquisition could create an undetermined number of support jobs in Indianapolis.
Consona now has more than 600 employees, including 150 or so at its headquarters at 450 E. 96th St. The firm had $130.5 million in revenue in 2007.
“The transaction is an important step for Consona as we continue to pursue our vision for profitable growth as a service and support specialty vendor within an increasingly consolidating software market space,” Consona CEO Jeff Tognoni said in a prepared statement.
SupportSoft said it was selling the assets to concentrate on the consumer segment of its software business.
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