Israeli start-up Kamoon today announced it had acquired ActionBase for an estimated $3-5 million. Kamoon will transfer ActionBase’s employees to its Ramat Gan development center. Kamoon CEO Yali Harari will manage the merged company, and ActionBase COO Zvi Nahir will become Kamoon Israel general manager. ActionBase’s four US salespeople will be laid off. The merged company will have 50 employees.
The acquisition of ActionBase is intended to expand Kamoon’s product line. Kamoon develops software that helps employees find information in an enterprise’s databases. ActionBase developed task management software, which Kamoon will integrate with its own systems to enable to exploit information located in the enterprise’s projects.
The Kamoon-ActionBase merge is part of the general consolidation in the knowledge management sector and between information management and cooperation companies. Information management company Documentum acquired with one of Kamoon’s competitors, eRoom, for $120 million six months ago.
Kamoon has agreements with IBM (NYSE:IBM) and Oracle (Nasdaq:ORCL), which distribute Kamoon software as part of their information management solutions. Igor Tsenter, Lior Rokach and Eitan Klevansky founded Kamoon in 1999. The company raised $5 million in its seed round in March 2000 from BRM Capital, which also invested in ActionBase.
Kamoon raised $23 million at a company value of $48 million, after money, in October 2000. Investors included BRM Capital, Apax Partners, Patricof and Co. Ventures, and XDL. Kamoon is headquartered in New Jersey. Its customers include Unisys (NYSE:UIS) and the Young Presidents’ Organization (YPO).
Founded in 2000 and headquartered in California, ActionBase has raised $10 million to date from Eyron, Wingspring and BRM Capital. It customers include Clalit Health Fund, Rafael , Israel Aircraft Industries, El-Op Electro-Optics Industries, the Ministry of Transport, the Isrotel hotel chain, ADC Telecommunications (Nasdaq:ADCT) and Strauss.
Published by Globes [online] - www.globes.co.il - on February 23, 2003