CDC Software, a subsidiary of CDC Corporation (CHINA), will purchase c360, a global provider of CRM products and development tools for Microsoft Dynamics CRM.
Financial terms of the deal have not been released.
Atlanta-based c360 is privately-held and sells its solutions exclusively through a network of over 450 authorized partners. The company has more than 1,000 customers worldwide.
Core to CDC's platform strategy, c360 will continue its commitment to building innovative, plug and play applications specific to Microsoft .NET technologies.
Within CDC Software, c360 will operate as a complementary, distinct business unit focused on providing high-volume, shrink-wrap functional add-ons for Microsoft CRM. c360 will remain a Microsoft ISV and leverage CDC Software's growing net cash balance in excess of US$230 million to fund research and development and drive business growth through its channel partners.
"We see significant growth opportunities in the CRM market, in both c360's path and our Pivotal CRM product line," said Eric Musser, chief technology officer and executive vice president of corporate strategy for CDC Software. "The addition of c360 allows us to serve more market segments, building upon our CRM knowledge and expertise and strengthening our relationship with Microsoft."
"By joining CDC Software, we will have access to the financial resources to take advantage of today's tremendous market opportunities, increase our product research and development efforts and grow aggressively as a Microsoft ISV worldwide," said John Gravely, co-founder and chairman for c360 who will remain with the company post-acquisition.