Saba Software
| Private | |
| ISIN | 🆔 |
| Industry | Software |
| Founded 📆 | 1997 |
| Founder 👔 | |
| Headquarters 🏙️ | Dublin, California |
Area served 🗺️ | |
Key people | Bobby Yazdani, Founder |
| Products 📟 | Learning Management Systems |
| Members | |
Number of employees | 1,400 |
| 🌐 Website | https://www.saba.com/ |
| 📇 Address | |
| 📞 telephone | |
Saba Software is a provider of learning management and talent management software, headquartered in Dublin, California. The company was founded in 1997 by Bobby Yazdani. In April 2000, the company went public on the NASDAQ stock exchange. In 2011, the company's revenues were $116 million.[1] The SEC charged the company with fraud in 2014, and Yazdani agreed to repay $2.5 million in bonuses he had earned while CEO.[2] [3]
The company was taken private in 2015 by Vector Capital[4] after a prolonged accounting scandal. There was some controversy regarding the going-private transaction, as Saba had not filed financial statements for several years prior to the transaction's announcement. The Delaware Supreme Court ruled that there were sufficient allegations to merit a lawsuit that the stockholders had been coerced into supporting the merger.[5][6]
In 2017, Saba acquired Halogen Software.[7] In 2018, Saba acquired Lumesse, a UK software company that produced talent management software. Following these acquisitions, Saba has nearly $300 million in revenue.[8]
References[edit]
- ↑ "Saba Software FY2011 10-K filing".
- ↑ "SEC Charges Software Company in Silicon Valley and Two Former Executives Behind Fraudulent Accounting Scheme". Securities and Exchange Commission. Retrieved 2019-01-24.
- ↑ "SEC claws back Saba Software CEO pay over accounting fraud". Yahoo. Retrieved 2019-01-28.
- ↑ "Saba Software to be taken private by Vector Capital". Reuters. Retrieved 2019-01-28.
- ↑ "Delaware Court Upholds Coercion and Disclosure Challenges to Merger – Saba Software" (PDF). Hunton and Williams. Retrieved 2019-01-28.
- ↑ "The Power of Corwin Continues in Saba Software". Harvard Law School Forum on Corporate Governance. Retrieved 2019-01-28.
- ↑ "Saba Software Announces Agreement to Acquire Halogen Software". www.saba.com. Retrieved 2019-01-24.
- ↑ "Saba Software Announces Agreement to Acquire Lumesse, Accelerating its Global Leadership in Talent Development". www.saba.com. Retrieved 2019-01-24.
Saba Software, a fairly large ($200 mn) SW company that has made several acquisitions.[edit]
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