Interaction solutions developer
today announced the acquisition of two companies, Informative and
Informative has developed technology to collate information on consumption habits. Crowdburst has developed Web-based interaction solutions for e-commerce ventures.
Cahoots bought both in equity deals. The Apax venture capital fund and Nokia provided part of the financing for the acquisitions.
The company did not disclose any of the valuations at which the deals were concluded. Elad Hemar, the company's chief operations officer in Israel, would only say that the company's valuation for the deals was higher than during its last financing round.
The company develops tools to improve Internet communication, mainly for e-commerce purposes.
To date Cahoots has raised a total of $42 million, including funding from Kamram Elahian. Its last funding round, in which it closed $25 million, took place in October 2000 at an estimated post-money company valuation of about $100 million.
Cahoots was established in September 1998 as Get Webby with the stated goal of "humanizing" the Internet. Its founders are Ronen Babayoff, Yaniv Iny, Elad Hemar, and American entrepreneur Kamram Elahian.
Elahian today heads the U.S. venture capital fund Global Catalyst Partners, which provided Cahoots with its seed capital.
Cahoots has more than 350 customers, most appearing on the Fortune 1,000 list. The company plans to shift to profitability in mid-2002. It maintains headquarters in Brisbane, California, and offices in Petah Tikvah, Israel. It has a staff of 70.