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Updata Advisors Represents QuickArrow In Its Acquisition By NetSuite
July 23, 2009 - NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites, announced its plans to acquire QuickArrow, Inc., an Austin-based software maker of cloud computing software for professional services businesses. Updata Advisors acted as advisor to QuickArrow for this transaction.
QuickArrow will be integrated into NetSuite's OpenAir business. The combination of QuickArrow and OpenAir will create North America's leading professional services automation (PSA) software company, with more than 80,000 subscribers and a customer base that includes such leading organizations as Symantec, Salesforce.com, Thompson Reuters, Genesys, Informatica, Proxicom, Siemens, Software AG, and PRTM.
NetSuite will purchase QuickArrow for $20 million in cash. This acquisition is expected to further advance NetSuite's creation of a next-generation cloud computing application suite for services-based companies. In October 2008, NetSuite announced NetSuite Services Resource Planning (SRP), the world's first cloud-based solution for the overall management of a professional services business -- from marketing to project management, service delivery, billing, revenue management and driving repeat business from existing clients.
Recent Updata Enterprise Application Software Transactions
Ira Cohen
Managing Partner
icohen@updata.com
| Greg Ager
Partner
gager@updata.com | John MacDonald
Partner
jmacdonald@updata.com
| Don More
Partner
dmore@updata.com
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Michael Parent
Partner
mparent@updata.com
| Joel Strauch
Partner
jstrauch@updata.com
| Chase Sanders
Senior Vice President
csanders@updata.com
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