California' ServiceSource acquires Scout Analytics in $32M deal
ServiceSource, a company that provides recurring revenue management software, announced its acquisition of Seattle-based predictive analytics firm Scout Analytics. The said purchase is valued at $32 million in cash, wrote TechCrunch.
GeekWire wrote that a consortium of series A preferred stockholders were not happy with the deal. Last week, the group filed a suit alleging that the board of Scout Analytics failed to explore an offer from Catalyst Investors III which would have given the firm a $40-million valuation. The company has yet to comment on this news, the report detailed.
Among the products of Scout Analytics is a customer subscription and spending tracker called Scout. The software provides companies with customer details that they can use to design marketing strategies. ServiceSource said recurring revenue will have an important role in the market as more people are now using cloud-based services, the report explained.
Mike Smerklo, chairman of ServiceSource, said of the acquisition: "Scout Analytics significantly expands our reach into the fast-growing SaaS market, while creating new opportunities in B2B subscriptions for information services and digital media. And, with the addition of sophisticated predictive analytics, we can give companies the required top-to-bottom view of their customers' data to grow through recurring revenue."