October 28, 2013

Big data company acquires CPQ provider

Businesses use an increasing amount of software, and getting all of it to work together seamlessly can be a challenge. Yet this is crucial for the smooth operation of any company.

Cameleon Software, an Illinois-based company, is one of many that offers a service that seeks to solve this problem for businesses. As a growing player in the configure per quote (CPQ) market, Cameleon helps its clients improve all aspects of their sales software. From generating more accurate price quotes to responding more quickly to proposals, this service can be customized for each individual company.

Not surprisingly, Cameleon's offerings have recently caught the notice of big data software company PROS.

According to a report by TechCrunch, PROS has acquired Cameleon for an all-cash deal of $33 million. The deal has been approved by Cameleon's shareholders and awaits a final verdict from regulators.

As TechCrunch reports, PROS is also in the business of providing solutions for sales forces. Its software helps businesses locate patterns in transaction data, which then makes it easier for them to fine-tune their sales efforts and target their customers more effectively.

It is possible that the end goal of this acquisition is to offer a wide range of services for clients looking to completely automate their sales process.

This technology acquisition is yet another hint that this particular area of the market is poised to experience growth. As TechCrunch points out, Cameleon's competitor, Apptus, recently raised $37 million. Glider, another startup company that offers a similar service, may also be successfully courting investors.