NetSuite acquires OpenAir

June 2, 2008 from ZDNet – “NetSuite said Monday that it has acquired OpenAir, which provides on-demand professional services automation software, for $26 million in cash.

All 56 OpenAir employees will continue to work at NetSuite–will give the company a Boston beachhead and an avenue to target the professional services vertical. NetSuite said in a statement that it will integrate OpenAir’s software to target services companies including IT consultants, legal and accounting firms and government contractors."

180 View – Smart move for both OpenAir and NetSuite. The deal will give OpenAir much higher visibility and more opportunities. As well, NetSuite will provide missing OpenAir functionality in financials and CRM. NetSuite gets a new/big market opportunity for professional service based companies.