June 11, 2014
Westborough's ViryaNet to be acquired for $18.8M
By Emily Micucci
Westborough mobile software company ViryaNet Limited has agreed to be acquired by Verisae Inc. of Minneapolis, according to a statement from the company.
Verisae, a cloud-based software company, will acquire ViryaNet for $18.8 million in cash. The deal is expected to close within 60 days, pending shareholder approval and regulatory approval in Israel, where ViryaNet has operations.
“Together with Verisae, we are better positioned to accelerate the delivery of our joint vision, which will benefit our employees, customers and future growth,” ViryaNet President and CEO Memy Ish-Shalom said in a statement.
Founded in 1988, ViryaNet provides workforce management software to clients in a variety of industries. Its stock is traded on the OTC market.
WBJ Web Partners
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