QuickArrow Acquired By NetSuite

Austin-based QuickArrow, a developer of professional services automation software, has been acquired by NetSuite, NetSuite said late Wednesday. NetSuite said it will pay $20M in cash for QuickArrow, and make it a part of its openAir business. In conjunction with the move, NetSuite said it will continue to maintain QuickArrow's offices in Austin, and will continue to support QuickArrow's software products. QuickArrow had previously received funding from companies such as Access Ventures, Austin Ventures, and Koch Ventures.