has acquired privately held
a developer of on-demand software focused on sales-force automation, for approximately $9 million in cash, the company said after Monday's close.
Last year, Salesnet's total revenue was $5 million; RightNow, which competes in some areas with the larger and better-known
, reported $87 million in sales.
The acquisition of Boston-based Salesnet will push RightNow's technology table forward by about a year and will give it the ability to serve large clients that have unusually complex sales environments, said Greg Gianforte, founder and chief executive of RightNow.
Like Salesforce, RightNow hosts customer-management software for its clients, meaning that the applications generally run on RightNow's servers.
Unlike traditional software vendors that sell perpetual licenses, RightNow, based in Bozeman, Mont., sells subscriptions. That business model is now called on-demand.
The acquisition will swell RightNow's customer base by about 200 and add about 30 employees, half of whom are engineers, said Gianforte.
RightNow will field a product this summer that is integrated at the "preliminary" level and go to market with a fully integrated product in the middle of next year," he said in an interview.
The deal has already closed.
Shares of RightNow ended the regular trading day with a loss of 30 cents, or 1.8%, to $16.72. No after-hours trades were reported.