Microsoft acquires cloud CRM firm Parature

Microsoft is reportedly ready to spend $100 million [£60 million] on acquiring cloud-based CRM firm Parature.

The software-as-a-service [SaaS] firm’s offering will form part of Microsoft’s Dynamics suite of products and brings with it 70 million users from corporate customers including the likes of IBM, Ask.com and the US Environment Protection Agency.

“Organisations are looking for business solutions that can strengthen their ability to connect with customers on their own terms, using whatever device and whatever channel they prefer,” stated Bob Stutz, corporate VP of Microsoft Dynamics CRM, according to Cloud Pro. “Parature is a perfect fit for every business and will enable us to offer customers one of the best cloud-based solutions for customer self-service. This is a compelling combination for organisations committed to delivering the best service experience that consistently exceeds their customers’ expectations.”

Parature’s services allows its customers to provide and manage customer support solutions as well as to generate new sales leads and Microsoft has yet to confirm whether it will continue to operate it as a standalone brand or incorporate it.

The acquisition gives Microsoft something that it has been sorely lacking when it comes to customer interaction in the modern age with the beauty of Parature’s service that it offers a knowledge base setting it apart from its competitors, stated Ray Wang, the founder of Constellation Research, in an interview with Tech Crunch.

The firm was originally formed back in 2000 as a chat application that was focused on online help and known as Cyracle. It eventually grew from there to become Parature in 2003 and moved offices from its humble beginnings in a dorm room at Cornell University to Reston, Virginia.

So far it has been able to source some $30.2 million [£18.4 million] in venture capital from the likes of Accel Partners as well as Valhalla Partners and Sierra Ventures.