Precise Software Solutions (Nasdaq:PRSE) (PRSE) has acquired a Texan startup called eBSure for around $1 million, say Israeli sources.
Dolev & Abramovitch Hi-tech Information estimates that Precise has so far put up a few hundreds of thousands of dollars, with the rest contingent on milestones.
Given Precise's cash reserves of $134 million, the deal is not of dramatic financial import, which may explain why it did not make any formal announcement.
Precise president Itzhak Ratner declined to confirm or deny the eBSure acquisition. "If we did not make an announcement, either we did not carry out the acquisition, or are not obliged to release details about it," he commented yesterday.
In the third quarter Precise acquired W. Quinn Associates for $20 million. eBSure, based in Dallas, Texas and Or Yehuda, Israel develops tools for business-to-business marketing that optimize the operation of e-commerce websites.
In a financing round half a year ago eBSure secured $2 million at an estimated company value of $10 million, far beyond its estimated valuation for the deal with Precise.