Friday, October 15, 2010

Casabi Acquired By Broadsoft

Gaithersburg, Maryland-based Broadsoft said this week that it has signed a definitive agreement to acquire the assets of Campbell-based Casabi. The deal is worth approximately $1.95M. Casabi is a developer of software applications to help provide users send group text messages, access voicemail, and manage their personal calendars, targeted at broadband and telecom providers. Broadsoft said Casabi's employees and Greg Pounds, its CTO and co-founder, will join the firm as part of the acquisition. Casabi had raised over $21.5M in funding from firms such as Canaan Partners, Great Pacific Capital, Mayfield, and Vanguard Venture Partners.