Oklahoma City, OK and Los Angeles, CA - February, 20, 2008 - ONEsite Inc., the leading provider of enterprise community and social networking software, announced today the completion of its acquisition of Social Platform LLC, well recognized as a key player in the custom white label social networking software space.
The acquisition is a key strategic move for ONEsite. Social Platform, based in Los Angeles, will extend ONEsite's footprint on the West Coast and increase its competitive advantage within the entertainment and technology sectors.
"This acquisition represents our continuing focus at ONEsite to build a world class social software as a service company through successful integration of great talent and technology," commented Bob Crull, ONEsite President and CEO. "We are pleased to bring the expertise Social Platform offers to the ONEsite team, allowing us to extend our lead as the premiere white label social networking provider."
Global media clients and Fortune 500 companies, including Univision, and Clear Channel Communications, utilize ONEsite technology for their social networking, community and new media initiatives. With over 1 million registered users and more than 2,000 communities, ONEsite?s social networks engage a broad range of clients, industries, and interests. In 2007, ONEsite achieved revenues of approximately $5 million and is forecasted to hit the $30 million mark within the next 22 months.
"This is an exciting milestone for us at Social Platform. Our existing customers will now gain the advantage of all of ONEsite's considerable resources and industry-leading technology. We look forward to extending those same benefits to new clients," remarked Social Platform founder and CEO Eric Schlissel.
Terms of the transaction were not disclosed.
