The offer is just a 4 percent premium on Friday's closing price, and a little more than half what the company was worth in its 2011 IPO. - From OregonLive.com
Jive Software, the onetime Portland startup that helped kick off the city's technology renaissance a decade ago, said Monday that it will sell the business to a Texas investment firm for $462 million, or $5.25 a share.
We look forward to helping Jive clients get the maximum value out of their investment with Jive," Scott Brighton, Aurea's chief executive, said in a written statement.
Jive had 595 employees at the end of 2016, according to regulatory filings, down from 721 a year earlier.
Jive did not immediately respond to an inquiry on the future of its Portland office or report additional details of the transaction.
However, Jive moved its headquarters to Palo Alto in 2010, a blow to the city's ambitions to build a big, local, tech business.