Software provider SuccessFactors has reported increased revenues in its results for the first quarter of the year.

The firm’s results reveal:

• Revenue was $43.8m (£28.5m), compared to $35.2m on the same quarter last year, up 24% year-over-year and a 4% increase on Q4 09
  
• Q1 cash flow from operating activities of $13.1m

The firm has also announced a definitive agreement to acquire social software firm CubeTree. The deal is worth $20m in SuccessFactors stock plus a cash payment which brings the value of the total consideration to $50m.