RightNow acquires social networking company HiveLive

Summary:RightNow on Tuesday said it will acquire HiveLive, an enterprise social networking company, for about $6 million in cash.In a statement, RightNow, which provides customer relationship management software as a service, said it plans to add HiveLive's technology to its platform.

RightNow on Tuesday said it will acquire HiveLive, an enterprise social networking company, for about $6 million in cash.

In a statement, RightNow, which provides customer relationship management software as a service, said it plans to add HiveLive's technology to its platform. The move is the latest by vendors to provide so-called "social CRM."

HiveLive will be integrated with RightNow's November release. Increasingly, social media technology is being built into enterprise applications as a means to navigate corporate data and foster collaboration.

RightNow said HiveLive will allow it to offer prebuilt communities as a customer service channel, incorporate forums and blogs and mix it with its knowledge engine.

As for the financial details, RightNow said that HiveLive will add expenses of about $1 million per quarter due to headcount. The company reiterated its 2009 revenue target, but cut its non GAAP earnings per share target to a range of 27 cents a share to 31 cents a share. The previous target was 29 cents a share to 31 cents a share.

Wall Street is expecting 2009 earnings of 32 cents a share on revenue of $149 million for 2009.

Topics: Software, Banking, Cloud, Data Centers, Emerging Tech, Enterprise Software, Networking, Social Enterprise

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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