Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Art Technology Group has completed its acquisition of eStara, which develops click-to-call, click-to-chat and call tracking applications. The total transaction is valued at approximately $48.3 million.
Art Technology Group has completed its acquisition of eStara, which develops click-to-call, click-to-chat and call tracking applications.
Under the terms of the acquisition, ATG acquired eStara for approximately 15.3 million shares of common stock and $2 million in cash. The total transaction is valued at approximately $48.3 million.
“We are excited about completing our acquisition of eStara,” says ATG president and CEO Bob Burke. “Their offerings fit perfectly with ATG’s end-to-end commerce solutions which are designed to create demand, improve conversion rates, enlarge average order size and provide excellent customer care.”
EStara’s click-to-call application integrates data from across a web site and networks the data to the call center, which in turn gives service agents a better understanding of how to address each customer’s needs. As a shopper clicks on a click-to-call button, contextual information about the session is immediately available to the service agent. Service agents can use this information to personalize the service interaction, says eStara.
“The combination of ATG’s on demand initiative with eStara’s pure on demand business will accelerate the expansion of our recurring revenue model,” says Burke.
ATG yesterday reported it expects revenues of $21.3 million for the third quarter, down from $22.7 million in the second quarter, and a third-quarter net loss of between $1.3 million and $1.5 million.
“While our revenue this quarter came in below street expectations due to a delay in completing a number of license deals in the third quarter, we believe these deals will be recognized in the fourth quarter,” Burke says.
Despite the lower-than expected Q3 revenues, ATG still expects revenue to total between $97 million and $105 million for the year, he says.