Blog Post

Mzinga Acquires Enterprise Social Networker Prospero; Raises $32.5 MIllion

Burlington, MA-based Mzinga has acquired Prospero, a developer of social networking tools for business customers. Mzinga was formed last November via the merger of KnowledgePlanet and Shared Insights, and offers businesses software for community and collaboration. The acquisition of Prospero allows the company to broaden its base – Prospero is strong in the media and entertainment sectors. Among the tools the companies offer are blogs, wikis, chat and social networking profiles. Terms of the acquisition were not disclosed, however, Mzinga also announced a $32.5 million raise led by W Capital Partners, along with GE Equity, Knowledge Industries and members of its own management. An unspecified share of the funding is dedicated for this purchase. With the combination of Prospero, Mzinga claims it has $30 million in annual revenue. Acquisitions release. Funding release.

Disclosure: Prospero has been a sponsor of this site