Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Contract Live provides an online resource for businesses to manage contracts.
Contract Live, a year-old software company that helps businesses negotiate and manage contracts online, this month raised $1.4 million in venture capital.
More than 3,000 customers use its contract management software, and the company is growing its customer base by 7% per week, Contract Live says. The company lists among its clients BSH Home Appliances Corp., Siemens AG and Thomas Cook Retail Ltd.
The software allows users to manage contracts for human resources, clients and suppliers at every contract stage, from contract creation and negotiation to verification via e-signature. It also sends participants alerts about deadlines via e-mail or text message.
“We have a unique platform that allows companies to manage their contacts from A to Z in the cloud,” CEO Mathieu Lhoumeau says. “Everything is done electronically and secured with the same exact legal value as a paper signature.” Contract Live uses a secured web mail interface and costs $29.99 per month. New customers can try the software for up to five contracts for no charge. Investors include Jean-Marc Tasseto, former director-general of Google France; Bruno Deschamps, former managing partner of private equity firm 3i; Arnaud Vaissié, CEO of international healthcare company International SOS, and other individual investors.
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