Asure Software acquires PeopleCube for $14 million

Deal Participants:
Acquiring Company: Asure Software View Profile Charts Homepage
Target Company: PeopleCube View Profile Charts Homepage
Deal Financials:
Price: $14 million
Cash: $9.80 million
 
Date:
Announced: Jul 05, 2012

Notes:

Had raised $17M

PRESS RELEASE

Asure Software acquires Framingham-based PeopleCube

By Ira Kantor
Thursday, July 5, 2012 - Added 16 hours ago
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Asure Software, Inc., a workplace management software company based in Austin, Texas, said today it has acquired PeopleCube of Framingham for a combination of stock and cash.

The purchase price was comprised of $9.8 million in cash, a $3 million two-year seller’s note, and the issuance of 255,000 shares of common stock, representing just under 5 percent of Asure’s outstanding shares, both companies said.

PeopleCube, which supports 7,500 clients in small, medium and large enterprises around the world, provides workplace management solutions that help customers manage their facilities, and minimize real estate, meeting services, travel and energy costs based on actual workspace usage.


“PeopleCube’s product suite of workplace management solutions helps companies improve efficiencies in workplaces every day, and is directly in line with the Asure Software strategy,” said Asure CEO Pat Goepel. “We are excited to integrate best practices of the PeopleCube product line to the Asure solution set. The enterprise service model will greatly improve our ability to bring solutions to companies of all sizes in a much larger marketplace.”

Links to Deal Documents:
Boston Herald article
Banking Representation:
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Legal Representation:
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Who Made the Money?:
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Title
Shares (mm)
Ownership
Cost Basis

Amt (mm)
Net (mm)
Big Bang Ventures
Truffle Capital
Edit History:
Jul 06 '12
Jul 06 '12
This version submitted by heuristo

 

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