NetSuite Acquires Bronto Software For $200 Million
Bronto Software, founded in 2002, has been growing like gangbusters for years.
“We had a great 2014, over 40% growth. And we have even more amazing things for 2015," said CEO Joe Colopy in a video of the company's fourth quarter update in 2014.
Colopy and NetSuite executives have been in talks for the past six months. NetSuite is acquiring Bronto for $100 million dollars in cash and $100 million in company stock.
Bronto, which specializes in commerce marketing for retailers through email and other social campaigns, is credited with pioneering commerce marketing automation which is used by more than 1,400 brands. Its logo is a green brontosaurus. NetSuite is a leader in cloud-based omnichannel commerce software suites.
"By combining the two companies' offerings and technology, we can help merchants deliver relevant and consistent digital commerce experiences throughout the customer journey," said NetSuite CEO Zach Nelson, in a statement.
Bronto is headquartered at the American Tobacco Historic District in Durham. Almost all of its 260 employees are based in Durham. It also has offices in London, New York, Los Angeles and Sydney. NetSuite has operations in 11 countries.
Bronto and NetSuite executives said there are no official plans to reduce staff. Both companies are planning to hire.