Alibaba has paid an undisclosed sum to acquire collaboration software tool developer Teambition, enabling Microsoft and Tencent to exit.
Internet group Tencent and software provider Microsoft have exited China-based collaboration software tool developer Teambition in an acquisition of undisclosed size by e-commerce firm Alibaba, Sina Tech has reported.
Founded in 2011, Teambition has created a range of cloud-based collaboration and project management tools with features including a group-wide chat forum and the ability to collectively edit documents.
The company had received an undisclosed amount of funding from Tencent in 2016, after securing $12m in series B financing from…
