Irish Software Company buys Teamwork.com Domain for $675,000 (€500,000)
ISME member TeamworkPM has reinvested its profits into acquiring the Teamwork.com domain name for US$675,000 (€500,000). The software company describes the move as a " bold statement of intent."
Some 20,000 companies in 147 countries worldwide use TeamworkPM's business software, which streamlines day-to-day operations.
Around 90% of the customer base includes companies like ebay, oxfam, Microsoft, Forbes, Paypal, Electronic Arts and NBC.
The company says sales are set to exceed US$12m by 2015.
Negotiations took over two years and this is the first time that the domain 'teamwork.com' will actually be used, having remained dormant since it was acquired by the original owner in 1999, explains TeamworkPM chief executive Peter Coppinger.
He said the company aims to use the new domain name to be a kind of marketplace for it's software-as-a-service (SaaS) cloud-based business products, which include CRM, customer support and and bookkeeping.