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Print Edition StoriesTuesday, January 12, 2010
ATG buys InstantService for $17M
By Mass High Tech staff
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Cambridge-based e-commerce technology company Art Technology Group Inc. has spent $17 million in cash to acquire InstantService, a Seattle provider of live chat services used predominantly in live tech help situations.
Officials at ATG (Nasdaq: ARTG) say the 300 customers in InstantService portfolio will be added to ATG’s base of 900 customers. The purchase is not expected to have a material impact on ATG’s non-GAAP earnings in 2010, according to the company.
InstantService’s customer list includes Charter Communications, VeriSign, H&R Block, Spiegel, Intuit, McAfee, US Airways and DISH Network.
Two years ago, ATG acquired another Seattle-based company, CleverSet Inc., for $10 million. CleverSet develops automated personalization engines that offer retail website visitors recommendations and information for purchases. The technology has been shown to increase e-commerce revenue by improving conversion rates and order sizes, officials said.
Founded in 1991, ATG designs websites for retailers. The company reported a 2008 net profit of $3.8 million, on revenue of $164.6 million.
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