Concurrent likes its investment in Everstream Holdings so much that it has decided to buy the company.
Concurrent, a developer of on-demand technology, said Friday it would acquire Everstream in an all-stock deal valued at $15 million. Concurrent (Nasdaq: CCUR) is an investor in Everstream, a developer of business intelligence software based in Cleveland.
Everstream has developed applications that monitor and analyze operations and performance data from millions of digitally enabled subscribers. These tools provide real-time analytics, historical reporting, and on-demand advertising, Concurrent said.
“This acquisition signals our move into the broader market of business intelligence software that can extend into any network involved in real-time customer transactions,” said Gary Trimm, Concurrent’s president and chief executive officer. “It is an initiative in concert with our focus on improving our quality of service for all the industries we serve. We believe there are markets in our real-time business such as finance, homeland security, and gaming that can benefit from Everstream’s business intelligence systems.”