PRESS RELEASE: Pegasystems Inc., the software company powering the digital enterprise with Better Business Software® announced it has entered into a definitive agreement to acquire Profeatable Corporation, the provider of Firefly co-browsing technology, based in Philadelphia, Pennsylvania. The transaction is expected to close early in the third quarter. Terms of the deal were not disclosed.
Pegasystems will unify Firefly’s cloud-based collaboration technology into its Build for Change® platform and customer service and sales applications. This will enable organizations to enhance customer experience and increase employee productivity through collaboration. Firefly will also continue to be offered as a stand-alone solution. Firefly’s technology enables users to securely share content by simultaneously browsing web pages. It empowers agents to proactively engage customers when and where they need it most, improving customer satisfaction, and driving adoption of self-service tools to increase revenue. It also increases productivity, enabling employees to more easily collaborate on work, regardless of location.
Co-browsing helps organizations convert web and mobile site visits into sales by supporting real-time, proactive collaboration. Co-browsing is also used to enable brokers, agents and other customer facing employees to easily share content and interact with prospects and clients. Firefly’s co-browsing is platform agnostic, as it works on Mac, PC, iPhone, iPad and Android devices.
The acquisition is expected to result in dilution of $0.01 to $0.02 per share in 2014 EPS on a GAAP basis due to acquisition costs, amortization of acquisition related intangibles, and stock-based compenstion. However, the acquisition is not expected to impact non-GAAP targets for full year 2014 revenue or EPS.
“Today’s organizations need to better engage their digital customers and deliver more personalized experiences,” said Alan Trefler, Founder and CEO of Pegasystems. “Firefly’s collaboration technology will empower our customers to provide superior dynamic co-browsing in a unified architecture and, in the future, chat and video capabilities. We’re excited to be providing a sneak peek into the capabilities of the joint Pega and Firefly offering live at PegaWORLD 2014 this week. We welcome the Firefly team to the Pega family.”
“We are excited to unify Firefly’s technology with the Pega platform,” said Dan Shipper, Co-Founder and CEO of Firefly. “Pega and Firefly share a common view of technology and are both focused on improving the experience of today’s ‘everywhere customer.’ We think this acquisition is a great fit for our company and our customers. We look forward to integrating our team and technology into Pega to deliver the next-generation of social collaboration and customer engagement solutions.”