Business Objects, a San Jose company that sells business intelligence software, has acquired Nsite, a private Sunnyvale company for an undisclosed amount.
Nsite builds on-demand applications and lets company employees easily configure them. These applications are browser based, and built with interactive AJAX technology. (Here’s a list of its apps).
From Nsite’s Web site description of its offering:
To make a change to the applications, users with the right security privileges can simply click an edit button and use the drag and drop and point and click features to easily change labels, add functionality and move objects around the application. IT departments and developers can use the advanced features of Nsite to extend the functionality of existing applications or build entirely new applications from scratch.
It is unclear whether Nsite’s investors made money on the deal.
The company raised $16 million previously, including $4 million last year in a third round of capital, led by existing investor WorldView Technology Partners. It had signaled that the round would be enough until it got more funding earlier this year.
(This story was first posted 11/22)
2 Comments
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Nsiter said:
Worldview investors in Nsite just about got their money back and made little on their investment. Disappointing as Nsite was touted to investors as a killer company with a killer CEO. The CEO, previously a sales manager at an boom era optics company, was a disaster. Customers walked away as did the founding employees and executives, burn rate was high, and the end not in sight. A forced firesale.
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Nsite Founder said:
I read up recently on VentureBeat and other places about the fighting between the partners at Worldview. Worldview was the lead investor in Nsite and selected the Nsite CEO. The CEO’s management style and bullying prompted the exits of the technical visionaries, engineering and even customer support leadership. Customers and prospects got cold feet too.
The results confirm the CEO and venture investor mirrored one another. Enough said.
Worldview couldn’t admit they made a wrong decision. Their own financial problems and insolvency made it difficult for them to help Nsite. Company disposed off in “a firesale.” Nsiter is right on.
A hot betting game in entrepreneurial circles is: which Worldview portfolio company is going under next?
