Seattle firm NetMotion Software agreed to be purchased by a technology company based in Vancouver, B.C., for $340 million in cash.
Absolute Software said its deal for privately held NetMotion, announced Tuesday, is expected to close in late June. Both companies focus on providing security solutions for their customers.
NetMotion has at least 3,200 customers worldwide and employs about 180 people, about half of which are in Seattle, and there are no plans to change that after the acquisition, said Joel Windels, NetMotion’s chief marketing officer. Absolute has more than 530 employees, Windels said.
NetMotion had about $60 million in revenue in the 12 months ending March 31, up 18% from a year earlier; it posted adjusted earnings before interest, taxes, depreciation and amortization of $18 million, according to an Absolute news release.