Portland software co. sold to Texas investment firm

PORTLAND, Ore. (AP) – A Texas investment firm is buying Jive Software, the onetime Portland startup.

The Oregonian/OregonLive reports (https://is.gd/PEphZg ) the new owner, ESW Capital, is paying $462 million in an all-cash deal.

ESW Capital says it specializes in revitalizing aging software companies, and will shift Jive into a portfolio of software businesses it already owns.

Founded in 2001, Jive moved to Portland in 2004 and quickly became the first in a new generation of Oregon technology company focused on software instead of hardware.

Regulatory filings show Jive had nearly 600 employees at the end of 2016. Company headquarters moved to California in 2010, but Portland remained its largest site, with 200 or more workers stationed at its downtown office.