A year ago I wrote an article weComm – Right place, Right time? I’ve followed weComm for 11 years. Indeed, Elderstreet Capital Partners, where I am both a General Partner and investor, has been a shareholder for all that time too.
So, given that every investment ultimately requires an exit, I’m pleased to announce that weComm has been acquired by Canadian and NASDAQ-quoted OpenText for “an undisclosed sum”. weComm had developed a software platform for the delivery of rich-media applications across a multitude of mobile operating systems and devices. As smartphones proliferated, so the need for such tools increased. Indeed, weComm can, I’m told, deliver systems to some 900 devices. weComm’s WAVE platform is ‘technology agnostic’ – so you can develop once and deploy to many – from the iPhone, Android, RIM, Windows Mobile, Symbian etc
weComm is said to be a pretty natural fit with OpenText’s “Web experience management solutions and digital asset management software”. Although please don’t question me at this time of night on precisely what that means!
On the one hand, as an investor, I am pleased that weComm has found a parent who can provide the resources to bring the product to a wider audience. But I don’t like having to report on the acquisition of yet another ‘Little British Battler”. However it is good to report that weComm’s development centre will remain, and be allowed to continue to grow, in the UK.