Mike McCamon of iModules emailed a press release over today, announcing the merger of online community software vendor IAC with iModules. I think that means the acquisition of IAC by iModules, but Mike (or Don Philabaum of IAC) can clarify that for us, if they're allowed to discuss the terms.
In his note, Mike says
What's interesting to me is this is yet another acquisition/financing event in our market with previous news of [the] Blackbaud/eTapestry merger in addition to Convio and Kintera's funding efforts.
The online community software space remains very cost-competitive for vendors, and this trend will continue (some would say "until Google owns them all" but let's not get carried away). Meanwhile, the iModules press release was of the ordinary type, revealing each party's pleasure with the deal and mentioning that iModules now has "nearly 600 clients and over 12 million constituents."
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