Planview, a portfolio company of Insight Venture Partners, has acquired Projectplace, a Sweden-based provider of project collaboration solutions. No financial terms were disclosed. Projectplace was backed by InnovationsKapital and VIA Venture Partners.
STOCKHOLM–(BUSINESS WIRE)–Planview, a US-based global provider of portfolio and resource management software, acquires Projectplace, a Sweden-based leader in project collaboration and one of the world’s first cloud companies. The acquisition will create a new market leader and pioneer the next phase of cloud-based project collaboration and enterprise portfolio and resource management.
“With the acquisition of Projectplace we continue to define a broader vision of portfolio and resource management,” says Greg Gilmore, CEO of Planview. “By bringing these two solutions together, we can help customers – spanning large enterprises to small teams – move their businesses forward by making better use of their limited resources through portfolio, resource, and work management.”
“It is very satisfying to be able to present online collaborators, project managers and enterprise decision makers such a powerful joint offering. Both Projectplace and Planview are pioneers in their respective fields, which makes this a natural and exciting venture. Together, we will provide users with unique solutions and an even greater possibility to grow with us as their business needs grow,” says Johan Zetterström, CEO of Projectplace.
Prior to the acquisition, Projectplace was owned by venture capital firms InnovationsKapital and Via Venture Partners. Terms of the transaction are not disclosed. With the agreement, Projectplace and Planview Enterprise become business lines in the new company, and the two brands will co-exist. The turnover of the new company will be more than USD 125 million.
Quick facts Planview
Global leader in portfolio and resource management in the cloud
Based in Austin, Texas. Offices in France, Germany, Italy, UK, and Australia
Founded in 1989
More than 500 customers in 50 countries
Backed by venture capital and private equity firm Insight Venture Partners
Customers span a variety of geographies and industries – Hallmark, Zurich Insurance, Eurotunnel Group, and US Airways
Quick facts Projectplace
A leader in project collaboration tools
Based in Stockholm, Sweden. Offices in Norway, Denmark, the Netherlands, Belgium, UK, Germany and India.
Founded in 1998
Close to 1 000 000 users in 150 000 projects
Formerly owned by InnovationsKapital and VIA Venture Partners
Customers span a variety of geographies and industries – ABB, AEG, BP, British National Health Service, British Sky Broadcasting, Carlsberg, Electrolux, Maersk Oil, Sony, Volvo and Zurich Insurance.
Planview is a global leader in portfolio management and project collaboration. From small teams to large enterprises, leaders in every industry rely on the company’s cloud solutions to empower organizations to reach their goals and drive results by optimizing the capacity of their people and financial resources. Planview’s singular focus fuels a deep commitment to innovation and customer success. For more information, visit www.planview.com www.projectplace.com