July 6, 2012
Framingham Workplace Software Co. Acquired
A Texas company announced it has acquired PeopleCube, a Framingham-based maker of workplace management software.
Asure Software, based in Austin, Texas, said it has entered into a stock purchase agreement to acquire PeopleCube for a combination of $9.8 million in cash, a two-year seller's note worth $3 million and 255,000 share of common stock, or just fewer than 5 percent of Asure's outstanding shares.
PeopleCube supports 7,500 clients in small, medium and large companies around the world, according to the announcement.
"This acquisition creates a global leader in providing solutions that manage workspace environments," said John Anderson, former CEO of PeopleCube, who will remain at the company.
Image credit: freedigitalphotos.net
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