[ About Us | Popular | Marcom | AdNet | IChannel | Glossary ]

Sep 23, 2008

Intel putting $20 million in business social-net firm

Ed: Competiton for Andresson's Ning and many others.

Intel putting $20 million in business social-net firm

Posted by Caroline McCarthy
Intel Capital, the chipmaker's venture arm, has signed a deal to acquire a $20 million stake in Telligent Systems, which specializes in social-networking software for businesses.

Intel is an existing client of Telligent.

The two companies have not disclosed a valuation for Dallas-based Telligent. Part of the $20 million stake has already been acquired, the companies said Tuesday, with the rest to follow within 12 months.

"This significant investment from Intel Capital will allow us to grow our team, our capabilities, and our reach during a time of market expansion," Telligent CEO Rob Howard said in a statement. The investment will be directed toward geographic expansion, hiring more sales professionals, and increasing Telligent's advertising and marketing budget.

Telligent manufactures a product called Community Server, which provides clients with blog, forum, wiki, and other collaborative and social software; the software is used primarily for customer relations and marketing. Those clients include the Associated Press, MySpace, Conde Nast, Electronic Arts, Visa, Honda, Dell, and the NFL.

No comments:

Post a Comment

Comments accepted immediately, but moderated.

Support Our Sponsors: