Office digital communications service provide Jive Software (JIVE) announced Monday that it was purchased by ESW Capital through its affiliate Wave Systems for $462 million or $5.25 per share, a 20% premium over the stock's closing price on Friday. 

Jive will become a part of the Aurea family of companies. 

"Jive, in combination with Aurea, enables us to bring customer experience and employee and customer engagement together. We look forward to helping Jive clients get the maximum value out of their investment with Jive," said Aurea CEO Scott Brighton.

Jive, which expects to close the deal in June 2017, saw shares pop 4.16% Monday morning to $5.26 per share. The stock closed Friday at $5.05 per share.

Jive has been the subject of M&A talks since at least October 2015 when private equity firm Francisco Partners Management acquired a 6.6% stake in the company. 

In June 2016 industry observers told The Deal, TheStreet's sister publication, that Jive may emerge as a buyout candidate for SAP(SAP) - Get Report , or another software provider, which is expected to return to the M&A scene following Microsoft's (MSFT) - Get Report acquisition of LinkedIn Corp.

Morgan Stanley is serving as financial adviser to Jive, and Wilson Sonsini Goodrich & Rosati is serving as legal adviser to Jive.

Atlas Technology Group is acting as financial adviser to ESW Capital and its subsidiaries. Cooley is serving as legal counsel to ESW Capital and its subsidiaries.

Jive, based in Palo Alto, Calif., was founded in 2001 and received funding from big name venture investors including Sequoia Capital and Kleiner Perkins Caufield Byers before it went public in December 2011. 

Editor's note: story has been updated since 8:35 am EST.