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ASP - Friday, May 26, 2006

Hosted CRM Laggard SalesNet Bought For $9M By Rightnow

salesnet logo.gif Bozeman, MT's RightNow has bought out a smaller competitor - Boston's SalesNet - for $9M. Although it was an early entrant, Salesnet last year had revenue of only $5M, while RightNow reported sales of $87M.

It strikes us in reading analysts reports on the deal that on-demand CRM still only represents 10% of the total CRM market, so this is an early merger in a field that is bound to see plenty of deals as the market matures.

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