Mar, 2003 : Stellent Acquires Selected Active IQ Assets

📅 March 17, 2003 - Content management solution provider Stellent Inc. (stellent.com) announced on Monday that it has acquired selected assets of Active IQ Technologies for $650,000 in cash, approximately the amount of the acquired annualized recurring revenue.

Stellent says the acquisition will have no revenue effect on its March 31, 2003 quarter, and is expected to be accretive for Stellent's fiscal year 2004. Stellent says the transaction involves no ongoing business relationship with Active IQ.
Under the terms of the agreement, Stellent has acquired technology, customer agreements and other assets related to Active IQ's hosted application business, which is built on the Stellent Content Management system. The company says it has assumed Active IQ's current subscription revenue agreements with customers, and will continue to market the hosted applications for vertical markets, as well as offering general hosting capabilities to other content management prospects and customers.
"The hosting of vertical applications built upon document and content management technology is an emerging market," said Vern Hanzlik, president and chief executive officer for Stellent. "Active IQ's methodology provides an alternate way to deliver the Stellent technology to vertical markets, such as the commercial real estate and packaging industries, which require or prefer a hosted environment in which to run their applications. The traction Active IQ has gained is testament to that market's viability, and we're confident we can expand upon this strategy to grow it into a substantial contributor to our overall business."