Today, Microsoft confirmed it is buying the Reston, Virginia based Parature, which was founded in 2000 under the name Cyracle; the software will help its Dynamics platform expand its role with customer service.
As a provider of cloud-based customer service software to midsize and enterprise organizations, Parature has a well-earned reputation for outstanding customer service with 70 million users worldwide and more than 500 well-known brands, including Ask.com, the United States Environmental Protection Agency, IBM, Saba Software Inc., Tagged Inc. and Threadless.
Microsoft, as they usually do with these kinds of announcements, declined to offer specifics on the deal's financial terms. TechCrunch reported on Monday, via unnamed sources, that Microsoft paid $100 million for the company. It added that Parature had received about $30.2 million in funding from a number of venture capital sources over the years. Parature's systems will be integrated with Microsoft Dynamics, according to the story, and the company will continue to be run as an independent unit.
In July, Microsoft announced it had bought the rights to two software programs, Warehousing for AX and Transportation for AX, from the software company Blue Horseshoe, that were made to work with Microsoft Dynamics AX 2012.
Image via Parature