For the trailing 12-month period ended October 31, 2012, eleven generated revenues of approximately $8.0 million (€6.3 million) and was profitable. Similar to Commtouch, eleven generates the vast majority of its revenues from the delivery of services to its clients on a recurring subscription-based revenue model. The acquisition of eleven is comprised of three elements: cash, shares, and an earn-out component based on the success of eleven within the combined entity. The closing purchase price included net cash of $9.2 million (€7.2 million) and approximately $2.1 million worth of Commtouch restricted shares. The earn-out component will be paid out through 2015 based on the successful achievement of certain performance-based revenue goals.Financial Guidance
Commtouch Acquires Eleven GmbH To Accelerate Launch Of Security-as-a-Service Solutions
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