Jive Software will make its debut tomorrow on the NASDAQ, and thanks to SAP and Oracle it looks pretty good.

Jive is a collaboration technology company. It emerged as one of the early entrants to the social collaboration market and has since grown significantly. Much of the growth comes from providing custom solutions, making it less of a pure play software company and more of a professional services provider.

But that alone would have made this IPO seem far less appealing than it is today. Luckily for Jive, Oracle and SAP made acquisitions that raise speculation that Jive, too, may be an acquisition target.

Last month, Oracle acquired RightNow. And earlier this month, SAP purchased SuccessFactors for $3.4 billion. That does wonders for Jive. Attention is turning to the SaaS space. Jive is in a position to see immediate benefits. The race to the middle is on.

I’m happy for the Jive team. I’ve been critical of the company for its reliance on customizations but that’s what happens when you get to the market early. You have to adapt. And Jive did just that.

Lastly, this is great news for Portland, OR, my hometown. Although Jive is now headquartered in Palo Alto, it was founded in Portland and maintains a large presence here. The IPO will create some new wealth and hopefully its employees will become investors in a new generation of startups in the Portland community. That’s enough for me to cheer on Jive tomorrow as I spend my day with SAP at its Influencer Summit in Boston. I am sure there will be some interesting perspectives to share from the SAP team and the none too short of opinions from my colleagues in the analyst and blogger pool.