CRM solution provider SugarCRM is working on to improve its productivity with its latest acquisition. The company snapped up Stitch, a company that develops personal assistant technologies that work to improve productivity for mobile users. Rumors of the deal began to roll late last week, after Stitch sent word to its users that the service was shutting down. SugarCRM finally confirmed the acquisition on Monday, however no financial terms of the deal were not disclosed until now.
A group of ex-executives from SugarCRM competitor sales force founded Stitch in 2013. The Stitch application is basically a mobile assistant for salespeople, that groups and looks through cloud-based documents to provide personalised sales recommendations via analytic insights. But it takes the data intelligence a step further by using algorithms to drive increased efficiency.
Stitch’s IP will help make SugarCRM smarter by essentially replicating the functions of a real-life assistant. Stitch gets to know how people interact and tries to make timely and relevant suggestions through a mobile app that ultimately works to improve customer experiences.
Jason McDowall, a co-founder and head of product at Stitch, said the company is “applying intelligence at the intersection of CRM, e-mail and calendar data to make people more productive.” Joining forces with SugarCRM will help shape the future of customer relationship management, he said. That’s a tall promise but it could shake things up in the CRM market when the next iteration of SugarCRM rolls out.
In addition to the mobile boost, SugarCRM is also turning the deal into an acqui-hire scenario, with Stitch executive and co-founder Somrat Niyogi joining the company along with Stitch’s mobile engineering talent. Adding mobile engineering talent will help the open source company compete with Salesforce.com. In fact, the Stitch engineers are the same people who won the $250,000 grand prize for a mobile app entered in Salesforce.com’s hackathon competition last fall.
“We’ve made Sugar an indispensable tool for customer-facing employees,” said Larry Augustin, SugarCRM CEO, in a statement. “Incorporating Stitch will make Sugar an even smarter, better-informed customer relationship management system, and put information at mobile users’ fingertips no matter where they are.”