NetSuite Acquires OpenAir for $26 Million
June 2, 2008 by CRM Helpdesk Software · Leave a Comment
BOSTON, (Reuters) – Business software maker NetSuite Inc (N.N: Quote, Profile, Research) said on Monday it plans to buy privately held OpenAir for about $26 million, causing it to report a larger loss this year than it had previously expected.
Boston-based OpenAir specializes in selling Internet-based software to consulting and professional services companies, an area where NetSuite wants to beef up its product line, NetSuite Chief Executive Zach Nelson said in an interview.
NetSuite, whose customers access its products via the Web, expects to post a full-year loss of 4 cents to 6 cents per share excluding items on revenue of $156 million to $159 million. It previously forecast a full-year loss of 1 cent to 4 cents per share on revenue of $154 million to $157 million.
Shares in the company, which held its initial public offering in December, fell 71 cents, or 3.1 percent, to $22.05 in morning trade on the New York Stock Exchange.
NetSuite plans to buy OpenAir for $26 million, net of cash on OpenAir’s balance sheet. NetSuite’s Nelson also said the economic slowdown in the United States is not hurting business. “(Sales) leads and (our) pipeline continue to grow faster than historically,” he told Reuters.
Related Articles on CRM Help Desk Software.com
- NetSuite On-Demand Business Applications First With Native Support For Google Chrome
- NetSuite’s On-Demand Services Resource Planning? Is SRP the New ERP?
- NetSuite to Add 150 Employees
- NetSuite OneWorld Named Enterprise Accounting Software of the Year by UK-Based Customers
- NetSuite CRM Targets Salesforce.com Customers
Recent Articles on CRM Help Desk Software.com
- Salesforce.com Delivers Real-Time Communication for the Social Enterprise with Chatter Messenger and Chatter Screensharing
- Salesforce.com Sees Tremendous Growth Across Europe, Increases Local Investment
- Watch Cloudforce London 2012 Live!
- Worldwide Study Shows Global Business Anti-Social in a Social Media Age
- SplendidCRM Announces Version 6.5 With Social Media Libraries
- NetSuite Announces Commerce as a Service (CaaS)
- Veeva Systems Announces Dramatic Growth in Europe
- Dell Cloud Business Applications Portfolio Expands with Integration Packs
- Zoho Support Integrates Facebook, Twitter
- LANDesk Software Finds IT Managers Not Yet Equipped to Handle Consumerization of the Workforce
About CRM Helpdesk Software
CRM HELP DESK Software.com is a leading resource for Information Technology managers and Sales professionals. The Blog provides quality content and research that managers at any size company or organization to choose the right CRM, Service Desk, & Enterprise products and services for their business.
