Several years ago, Oracle (NASDAQ: ORCL)'s CEO, Larry Ellison, said there were too many software companies, and that as a result, there would be a trend towards consolidation.

However, with the credit crunch – and the slowing economy – things have gone off track somewhat. But now we may see more dealmaking.

Take a look at NetManage (NASDAQ: NETM). The company has been "in play" for a while. Last year, Rocket Software tried to buy the company for $69 million, but the deal fell-through because of difficulties with obtaining financing.

Well, NetManage was able to find a new suitor, Micro Focus International, and both parties recently agreed to a $73.3 million buyout deal.

NetManage has a strong set of technologies that deal with integration and web services. The company has also been revamping its platform. In Q4, the company posted a 27% increase in revenues to $10.9 million and net income came to $1.7 million, or $0.17 per share.

Micro Focus, though, is probably more interested in NetManage's customer base, which is about 10,000 or so. The company cranks out about $22 million in maintenance fees, which are fairly reliable and high margin.

And despite the recent improvement with NetManage, the company still faces tough competition. So, selling out -- especially at its 70%+ premium -- makes a lot of sense.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.