Appcelerator, a mobile application improvement firm, has been bought over by Axway. You may probably not know Axway much, but the fact remains that it is a very big publicity company that provides services and software to assist various organizations manage their data flows. This B2B Company has its headquarters in Scottsdale, Arizona.
Presently, Axway boasts of almost 2,000 employees and approximately 11,000 clients. In 2015, the Q3 revenue of Axway amounted to €65.9 million.
On the other hand, Appcelerator that is most likely still best acknowledged for writing mobile applications has just a few clients. Appcelerator was only able to realize almost $87.9 million prior to this purchase.
Some of the financiers of Appcelerator are:
- Translink Capital
- Union Grove Venture Partners
- Storm Ventures
- Rembrandt Venture Partners
- EDB Ventures
- Red Hat
- Mayfield Fund
According to the report gathered, both Axway and Appcelerator (currently Axway) were not ready to reveal the price of the deal. However, Jeff Haynie who is the Chief Executive Officer and one of the founders of Appcelerator confirmed that the deal is over and the money has since being deposited in the bank. He pointed out further that the transaction benefited the two parties as well as those working with Appcelerator.
The fact that the product portfolio of the two companies have common characteristics and that Axway is a market leader are the great things about this acquisition. Providing different ventures with uninterrupted solution right from ingesting their data to putting it together on mobile is actually what this particular deal is all about.
As far as the mobile piece was concerned, it was clearly missing from the portfolio of Axway. They were capable of offering their data through APIs by making use of the services of Axway, which is how far the company was able to take its customers so far.
Furthermore, this acquirement is about moving Axway clients to bimodal IT – which means, providing them the protection and firmness that its products have usually offered, and the capability to become more nimble and move fast enough to continue to be viable.