Sales Commission Management Sees a Successful Exit - Xactly Corp. Acquired by Vista Equity Partners for $564 Million
CellarStone CEO Congratulates Xactly Corp on Giving Successful Exit to Investors.
- (1888PressRelease) June 21, 2017 - SAN FRANCISCO – CellarStone Inc., a premier provider of sales commission solutions congratulates Xactly Corp on providing a successful exit for its investors.
Xactly Corp (NYSE:XTLY) went public two years ago in an IPO that fell short of its target at $8 a share. The trading range was expected to be $10 to $12. Prior to going public, the company had raised more than $80 million from venture capitalists.
During the last two years as a public company, Xactly revenues had grown more than 50% to $95M, but losses continued and at the latest year-ending, stood at more than $16M. Vista Equity Partners made an offer of $15.65 a share, compared to Xactly's last closing price of $13.40.
Xactly also announced its expectation of loss for the upcoming quarter of between $1.7 million and $1.9 million. This follows another acquisition of a sales commission provider, Varicent by IBM. The only major independent vendors left in the marketplace now are Callidus Software and CellarStone. Inc., with its QCommission family of sales compensation products.
QCommission’s powerful commission plan architecture allows the definition of almost any kind of sales commission structure. The sales commission agreement can be unique by payee or shared across groups. CellarStone’s unique QXchange integration layer allows the integration of data between QCommission and most standard accounting and CRM applications.
QCommission allows companies to:
• Set up simple or complex plans based on their need
• Publish compensation plan documents and approve it using workflow
• Administer any kind of commission plans directly by the business user
• Calculate commissions for more than 65 different industries
• Integrate to 30 different applications and data formats
• Allow mobile and web access to the field
• Project commission estimates to the field
“We congratulate Xactly Corp in its commitment to providing a return on investments to its investors,” said Gopi Mattel, CEO of CellarStone, Inc. “Commission administration is a challenging business area to automate and they have provided success to their investors.”
About CellarStone Inc.
CellarStone Inc. is one of the premier companies offering products and services in the Sales Compensation arena. CellarStone works with IT, Finance, Human Resources and Sales to manage and implement variable pay and sales commission systems. QCommission has been implemented successfully for companies in many industries including Mortgage, Staffing, Manufacturing, Consulting, Investment Management, and many others. For more information please visit www.cellarstone.com.
All product and company names are the trademarks of the respective companies.
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