US-based computer technology company Oracle has agreed to acquire US-based Fatwire Software, a company specialising in web content management backed by EuclidSR Partners – a venture capital joint venture wthi drugs company GlaxoSmithKline, for an undisclosed amount.
Founded in 1996, Fatwire currently works with over 500 organizations and has offices in 11 countries. The acquisition is expected to extend the technology and applications services on offer for Oracle customers.
Hasan Rizvi, senior vice-president at Oracle, said: "The addition of FatWire products will give Oracle the ability to provide a complete suite of software that empowers web marketers to engage visitors, converting more prospects to customers, and enhancing customer loyalty."
Investors in the initial rounds of Fatwire’s funding included the US-based private equity firm Wheatley Partners, which led a $9.25m first round of funding in 2000.
A second round of funding the following year attracted as well as US-based venture capital firms EuclidSR Partners, Topspin Partners and Newlight Associates, which collectively contributed to a $10m second round of funding the following year.