California-based software company Pivotal has chosen Toronto's Xtreme Labs as its first acquisition target.
"Every enterprise today has to exploit the opportunities offered by mobile. This requires new ways of thinking and working, and the need to get it right the first time and every time. We're thrilled to bring next-generation mobile capabilities to our customers and welcome Xtreme Labs to the Pivotal family," said Paul Martiz, the CEO of Pivotal.
"We share Pivotal's belief that the convergence of mobile, social, big data, and cloud is driving extraordinary change in the enterprise. It is something we see every day with our customers. By joining forces with Pivotal, we can bring our strong heritage, that of helping the world's most important companies succeed in mobile, to help an even greater number of companies to win in a new era," said Amar Varma, a cofounder of Xtreme Labs.
Last year venture capitalist Chamath Palihapitiya committed $20 million of his own personal money to acquire a majority stake in Xtreme Labs.
The companies have a combined 500 employees. According to Xtreme Labs, its jobs will remain in Canada.