CRM Report: Retek Buys HighTouch Technologies for $27M

Minneapolis, Minnesota-based Retek, Inc. (Nasdaq: RETK) strengthened its new CRM offerings today, as it announced an agreement to buy HighTouch Technologies for $27 million (US$).

HighTouch provides CRM solutions to such dot-com companies as Tupperware.com, SportsLine.com and others. The deal calls for Retek to pay $18 million in cash and $9 million in stock.

Retek launched its retail CRM product last week. The company provides retail solutions to Abercrombie and Fitch, Ann Taylor, Fogdog Sports and other national retailers.

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