Enterprise software company (NYSE: CRM) is reportedly expected to buy Canadian shared-Web start-up GoInstant for more than $70 million, as the cloud-computing company best known for its customer relationship management (CRM) platform seeks to expand its collaboration offerings.

The expected acquisition was reported Monday by The Wall Street Journal, citing unnamed sources familiar with the deal.

Nova Scotia-based Golnstant, founded in 2010, has developed technology that allows people in different locations to browse websites together without a plug-in or added software.

Acquisition of GoInstant would seem to further's effort to bolster its social-enterprise holdings. On its website, declares itself "the enterprise cloud computing company that is leading the shift to the Social Enterprise."

In May, San Francisco-based, a 13-year-old S&P 500 company, bought social-enterprise software maker Buddy Media and online collaboration platform developer Stypi. In 2011, acquired six companies, including the performance-management company Rypple.

GoInstant, which lists just a dozen employees on its website, was funded with $1.7 million raised from such prominent Silicon Valley technology figures as Reid Hoffman, founder of LinkedIn Corp. (NYSE: LNKD) and Chamath Palihapitiya, a former vice president at Facebook (Nasdaq: FB), in addition to investments from venture-capital firms including Baseline Ventures, Freestyle Capital and Innovacorp.

For more:
 - read the WSJ article (sub. req.)

Related articles:
Sonata Software links with, Amazon
Social enterprise interest continues to build's cloud success breeds copy-cat rivals
M5 Networks debuts new iteration of Connect for

Source: Fierce
More about: acquisition
If you found this article interesting, please consider subscribing to our RSS feed, or becoming a member of biz-news to have future articles delivered to your feed reader or mailbox
Latest News
Advertise with us and reach to an audience of thousands of High Tech professionals
Your Name *
Your Email *
Your email will not be disclosed anywhere
Antispam Control