Tuesday, November 14, 2006

SumTotal Acquires MindSolve

Mountain View-based SumTotal Systems said today that it has acquired MindSolve Technologies, a Florida-based provider of performance management software. The deal is worth $5.2M in cash plus 925,000 shares of SumTotal common stock, for a total of approximately $11.4M. SumTotal said that it expects MindSolve to add $1.5 and $2.0M in quarterly revenue to the firm's operations. SumTotal is a provider of performance management software for businesses.