Hummingbird acquires RedDot

Hummingbird reports its has acquired privately held RedDot Solutions for $47.5 million and an additional cash consideration estimated at $5.5 million after Dec. 31 based upon performance targets. RedDot Solutions will function as a subsidiary of Hummingbird and will continue to serve all its existing clients globally.

The companies say the move will enable them to:

• address the accelerated demand for enterprise content management solutions with an integrated platform;

• enhance Hummingbird Enterprise with a Web content management solution within the Hummingbird installed base of Global 2000 customers;

• extend and accelerate market reach within midsize enterprises, where, the companies believe, the demand for enterprise content management solutions will outpace all other segments of the market; and

• create a complementary business model where the RedDot and Hummingbird product suites are cross-licensed to each other's existing installed base.