PRESS RELEASE: Jive Software and Aurea announced that ESW Capital, LLC, through its affiliate Wave Systems, has completed its acquisition of Jive. Under the terms of the definitive agreement announced on May 1, 2017, a tender offer for all the outstanding shares of Jive common stock was commenced at $5.25 per share in an all-cash transaction valued at $462 million.
The tender offer and merger contemplated by the definitive agreement were completed on June 12, 2017 and Jive has become part of the Aurea family of companies.
“Jive is a market leader with an incredible impact on the way people work together in today’s digital age,” said Elisa Steele, CEO of Jive. “We are reminded of this each day in the success stories we hear from our innovative customers, who represent some of the strongest, most powerful brands in the world. This kind of deep engagement – where employees, customers and partners come together through collaboration – will be a critical driver to broaden the customer experiences Aurea delivers to market. It’s been my great honor serving as Jive’s CEO and I salute the Jive team who helped transform Jive to lead with cloud, drive to profitability and achieve record revenue for the company.”
“Jive’s industry-leading employee and customer engagement solutions will play a foundational role in helping Aurea deliver transformational customer experiences for our clients,” said Scott Brighton, CEO of Aurea. “Together, Aurea and Jive will transform the customer experience through far deeper engagement with employees, partners and customers. I’m excited to welcome Jive customers and employees to the Aurea family, and look forward to taking this significant step forward together.”
Research has shown a direct correlation between more deeply engaged employees and dramatically higher levels of customer satisfaction. A recent study by McKinsey found that redesigning customer journeys with a parallel focus on internal employee engagement can raise customer satisfaction scores by up to 20 points, reduce costs to serve by 20 percent, and boost employee engagement by 20 percent. Through this acquisition, Aurea will accelerate its mission of delivering the world’s greatest customer experiences for companies around the world.