Amadeus Capital Partners today announced the sale of oneDrum, the first exit from the Amadeus & Angels Seed Fund, to Yammer Inc., the leading provider of Enterprise Social Networks. The exit is expected to deliver a significant investment multiple for the fund’s investors, subject to certain milestones being achieved.
oneDrum, backed with seed finance from Amadeus since 2008, is a UK-based software company that offers file sharing and collaboration solutions for businesses. Through this acquisition, Yammer will gain powerful desktop sync capabilities, enabling file folders to be shared across multiple users’ desktops. oneDrum also brings collaborative functionality to Microsoft Office applications, allowing multiple authors to work together on Word, Excel and PowerPoint documents in real time.
Today’s enterprise content management (ECM) systems are built on document-centric architectures designed for file storage and are inefficient for collaboration. As a result, users typically resort to email for file sharing, which presents significant challenges for version control and information discovery.
Yammer is taking social discovery to a powerful new level by making content that exists on the desktop instantly shareable, without requiring additional actions from the user. Yammer thus enables some 4 million users in over 200,000 companies, including 85% of the Fortune 500, to make transformative changes quickly by collaborating across departments, geographies, content and business applications. The acquisition of oneDrum will help Yammer users get work done faster, smarter and with greater transparency.
Yammer, headquartered in San Francisco and cited by Time magazine (March 29, 2012) as a ‘Game Changer’, is led by David Sacks, former COO of PayPal. “Employees spend a huge amount of time working with files, especially Microsoft Office documents,” said David Sacks, Yammer CEO. “Through oneDrum, Yammer will incorporate all of that content into the enterprise social graph, making it discoverable and collaborative. Our mission is to create a social layer across the enterprise, bringing together people, content, and conversations across all business applications.”
Financial terms of the deal were not disclosed. All of oneDrum’s employees will join Yammer, with CEO, Jasper Westaway, leading the integration of the two products.
Commenting on the exit, Amadeus Partner, Alex van Someren said: “Early stage investing is vital to the ecosystem of innovation and the development of oneDrum is evidence that we can build great businesses from the ground up. Yammer is a really impressive and rapidly growing company and the fit between the products of the two could not be better.”
For further information, please contact:
Chantal Ligertwood, PR for Amadeus, +44 (0)7976 229 210 firstname.lastname@example.org