Bothell-based Dexterra plans to announce today that it has bought Octanewave Software, an acquisition that already appears to be paying...
Bothell-based Dexterra plans to announce today that it has bought Octanewave Software, an acquisition that already appears to be paying off by helping Dexterra land its largest contract to date.
Dexterra develops software using Microsoft’s .NET platform to help field workers at large companies connect to software systems while they’re on the road. Toronto-based Octanewave developed similar technology, except that it runs on devices utilizing the programming language Java.
With both, Dexterra can now sell to customers that use a combination of mobile devices without requiring them to upgrade their equipment.
Its new customer, Dubai-based Emirates Airline, plans to deploy the software on 10,000 devices that run on both .NET and Java platforms.
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“I don’t think we would have been able to win” the Emirates contract without Octanewave, said Rob Loughan, Dexterra’s chief executive. “They can now leverage their existing assets. It all comes down to the price, and they got the best of both worlds.”
Loughan said Dexterra paid for Octanewave with a combination of cash and stock, though he wouldn’t disclose how much. Dexterra hired all 24 Octanewave employees and kept the Toronto office.
To fund this acquisition and future purchases, Dexterra also closed a third round of venture-capital financing for $11 million. To date, the company has raised a total of $35 million.
Investors in the round include all previous investors: Canaan Partners, Motorola Ventures, Intel Capital, Sigma Partners and SagusCapital.
Loughan started Dexterra in late 2002 after he moved to Bothell from California to be close to Microsoft.
Before Dexterra, he co-founded Octane Software (no relation to Octanewave, Loughan says), which was acquired by San Mateo, Calif.-based E.piphany for $3.2 billion in stock in May 2000.
Today, Dexterra has 134 employees, including the additions from Octanewave. It has more than 50 resellers and has landed 75 customers. This year, Loughan expects revenue to grow at least 300 percent over last year.
“I’m focused on building the best company in the market,” he said.
Tricia Duryee: 206-464-3283 or email@example.com