The partner relationship management (PRM) market got a little bit smaller this week with the acquisition of ChannelWave Inc. by Click Commerce Inc.
Chicago-based Click acquired the channel management and service automation businesses of ChannelWave, based in Aliso Viejo, Calif. ChannelWave will retain its commerce on-demand business as an independent company.
Channel management allows companies to reduce costs while increasing visibility into their partners' sales activities.
Click paid $1 million in cash and issued about 226,000 shares for the ChannelWave businesses, including its customers, technology and personnel.
"We are excited about the opportunity to combine ChannelWave's channel management and service automation solutions with the Click Commerce extranet and collaborative commerce product suites," Chris Heidelberger, president of ChannelWave, said in a release. "Click Commerce's profitable growth and financial strength will help bring the best products and services of both companies to the channel management marketplace."
ChannelWave and Click Commerce were two of the leading best-of-breed PRM vendors, said Rob DeSisto, an analyst with Stamford, Conn.-based Gartner Inc. They also compete with large business application vendors Redwood Shores, Calif.-based Oracle Corp. and Germany's SAP AG.