Acquisitions Give Primavera a Complete, End-to-End Project and Portfolio Management Solution; Primavera Becomes the Global Market Leader.
PHILADELPHIA, PA, December 12, 2006 Primavera Systems, Inc., today announced that it has acquired two companies: ProSight, Inc., a portfolio analysis solutions company based in Portland, Ore., and Pertmaster, Ltd., a risk analysis and mitigation solutions company based in the United Kingdom.
Terms of the transactions were not released. The acquisitions will make Primavera Systems the market share leader in the project portfolio management category.
Through the acquisition of ProSight and Pertmaster, we have created the industry's first, truly end-to-end project and portfolio management solution, said Joel Koppelman, CEO of Primavera. We are the only company in the world that can help organizations choose the projects they need to support a business strategy, and then help them execute on those projects successfully. Whats more, we are the only company that can present customers with both a realistic range of the most likely outcomes for a portfolio of projects and a set of options to mitigate those risks.
ProSights solutions, which help customers analyze and plan their project and portfolio investments, will be marketed as Primavera ProSight, a stand-alone product that integrates with the rest of Primaveras solutions. Primavera will retain all of ProSights offices, including its headquarters in Portland, Ore., its Federal office in Crystal City, Va., and its development office in Jerusalem, Israel.
By joining with Primavera, our customers will now have access to Primaveras world-class solutions to plan, execute on and control projects beyond the initial portfolio analysis, said John Cimral, CEO of ProSight. Primavera's well-known commitment to superior service and support will certainly benefit ProSights customers.
Pertmaster's risk analysis and mitigation solutions will be marketed as Primavera Pertmaster, a stand-alone product that integrates with the rest of Primaveras solutions. Primavera will retain all of Pertmasters offices in the UK and US.
Primavera has been our most important partner for a long time, said Sarim Khan, CEO of Pertmaster. Bringing our two companies together was a natural move. Primavera is the world's largest software company dedicated exclusively to project, portfolio and resource management, and its purchase of Pertmaster is proof of its strong commitment to the Pertmaster solution and our customers.
Primavera is a software company whose clients depend on its project, resource and portfolio management solutions to identify which projects are most important and to make it easy for people to work collaboratively, productively and successfully. Primavera solutions are industry-specific and role-based, with the power to support global enterprises. Primavera solutions have ensured the success of projects and programs collectively worth more than $5.5 trillion. For more information, visit www.primavera.com.
ProSight offers world-class Enterprise Investment Management solutions for government and business. These solutions drive the planning and control for all types of business or technology investments, deploying objective, auditable processes and metrics, while facilitating collaboration among all stakeholders. ProSight's customers get rapid results, including rationalization of current spending, optimization of support for the business, and active governance to obtain the highest possible return on investment. For more information on ProSight and our customers' success, visit www.prosight.com.
Pertmaster is a provider of risk and analytics software for Project Portfolio Management (PPM) environments, with focus on oil and gas exploration, engineering, manufacturing, construction, aerospace, defense and government. Some 7,000 projects around the world rely on Pertmaster solutions to help management & engineering alike model and control risk and uncertainty on portfolio costs, resource requirements and schedules. Key customer benefits include: improved project bidding, smarter project execution and control, more realistic project expectations, objectively managed contingency tracking, better risk-balancing of project portfolios and improved communication of risk to stakeholders. Pertmaster is a Microsoft Certified Partner, Microsoft ISV/Solutions Partner, Microsoft VBA partner as well as a Primavera Technology Partner. For more information please visit our web site at: www.pertmaster.com.
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