Tuesday, March 14, 2006

Clearstory collects Datawatch for $4.3M in cash - Chelmsford, MA

Westborough's ClearStory Systems Inc. is selling its document archiving business to Chelmsford-based Datawatch Corp. for $4.3 million and other considerations. The deal is expected to close in April.
ClearStory officials said the sale will allow the company to focus on its core digital media businesses, while enabling Datawatch to expand its business in document solutions market, including e-mail management and archiving. The purchase price under the asset purchase agreement is $4.3 million in cash at close, with an earn-out, calculated by multiplying net revenues derived from the product sales by 30 percent for the next 18 months. Clearstory was founded in 1989 as INSCI Corp.



Post a Comment

<< Home