Callidus Software's Strong Growth Should Continue
Fri, Mar. 18, 1:21 PM
- Alphabet/Google (GOOG -0.5%, GOOGL -0.6%) "has assembled an early working list of possible acquisition targets in enterprise that include a number of startups," sources tell Re/code. The site cautions talks have been preliminary thus far.
- E-commerce software/services firm Shopify (SHOP +3.1%), which has a $2.2B market cap and claimed over 243K merchant clients as of Q4, is reportedly on Google's list of potential targets. Xactly (XTLY +3.6%), a provider of cloud-based employee compensation software that sports a $187M market cap. Other names include Callidus (CALD +5.1%), a provider of enterprise sales/marketing software with an $843M market cap, Metavine, a provider of cloud services that help companies develop business apps, and Namely, a cloud HR software firm. Shopify and Xactly are trading higher.
- Re/code notes the list is filled with companies that have strong exposure to mid-sized businesses. Google reportedly wants to buy cloud software/services firms serving the mid-market in order to strengthen Google Apps and migrate the acquired companies' platforms to the Google Cloud Platform (cloud infrastructure and app hosting).
- Google's efforts are said to underscore "the broad edict and influence" new cloud chief Diane Greene has within the company, as the Web giant attempts to gain ground in cloud infrastructure against Amazon and Microsoft. CRN reported on Wednesday Apple (an Amazon and Microsoft cloud client) has signed up for the Google Cloud Platform.
Callidus Software, Inc. provides cloud software. The company is doing business as CallidusCloud. It enables organizations to drive performance and productivity across their business with its Hiring, Learning, Marketing and Selling clouds. The CallidusCloud product suite provides Software as a... More
Industry: Business Software & Services
Country: United States