Xactly Buys Centive

San Jose-based Xactly said Thursday that it has acquired Centive, a Lowell, Mass. firm which develops sales performance management software. Financial terms of the sale were not disclosed. Xactly said that it has acquired all of Centive's assets and its employee base, in a stock-based transaction. Xactly said its management team will continue to maintain its headquarters in San Jose, and be led by its management team. Both companies develop sales performance management software, which is used to track sales pipelines and individual sales people. Xactly is venture backed by Alloy Ventures, Bay Partners, Cheyenne Capital, Glynn Capital Management, Outlook Ventures, Rembrandt Venture Partners and Spinner Asset Management.