Planview, which is backed by Insight Venture Partners, has acquired Troux, an enterprise solutions provider. No financial terms were disclosed. Lazard was financial advisor to Troux on the transaction.
AUSTIN, TEXAS – May 21, 2015 Planview® has acquired Troux™ to advance the company’s IT portfolio management offering and enable CIOs and other IT leaders to effectively manage the strategy and business of IT. Bringing together Planview and Troux represents the industry’s first combination of market leading Project Portfolio Management (PPM) and Enterprise Architecture (EA) solutions. Together, these solutions provide IT leaders with a comprehensive approach that integrates strategic planning and execution with complete insight into architecture and technology.
Today’s IT organizations are under pressure given the escalating dynamics of the digital business economy. IT leaders continuously need to optimize all of their resources – people, finances, applications, services, products and technology. As a result, Enterprise Architects are transforming into champions of business outcomes, orchestrating technology and business model change through roadmaps and managing application and service portfolios.
Similarly, the role of project management offices (PMOs) is transitioning to focus on continuous portfolio planning to adjust priorities and ensure resources and work are delivering the most value to internal and external customers. As the Enterprise Architect and PMO roles evolve, there is an increased need to manage resources in one IT portfolio that optimizes across strategy, execution, and architecture.
“The traditional goal of IT alignment with the business is simply not good enough in today’s technology-driven economy,” said Gregory S. Gilmore, CEO of Planview. “Driving innovation and accelerating strategic and business outcomes must be the charter for IT. With Troux as part of Planview, we are taking portfolio management to the next level by giving IT leaders a way to manage one integrated portfolio that optimizes their resources for maximum business impact.”
With the acquisition of Troux, the newly combined entity creates a $150 million global company with close to 600 employees and more than 1000 enterprise customers. The Planview product line now spans project collaboration, resource and portfolio management, and enterprise architecture solutions.
“Joining Planview sets the stage for the next chapter for Troux and its customers,” said David Hood, CEO of Troux. “Planview is the right partner to take Troux forward. Our solutions are perfect complements and will provide a great combination for today’s IT leaders who are looking to integrate planning, execution, and architecture.”
By acquiring Troux, Planview continues its transformation as a provider of solutions to the enterprise, mid-sized organizations and teams. The company’s acquisition of Projectplace in 2014 brought to life its “No Matter How You Work” approach, which combines resource and portfolio management with project collaboration solutions to help IT and Lines of Business understand how their resources are being used across the organization.
Lazard served as financial advisor to Troux.
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 http://www.planview.com and https://www.projectplace.com.
Troux’s mission is to change the way businesses make decisions. Troux solutions deliver the enterprise intelligence business leaders need to see the big picture and understand exactly where they should be investing in their business. Enterprise intelligence provides a new level of transparency to show where the business is over-invested, under-invested or at-risk. As a result, businesses make informed decisions that bolster growth, reduce cost and increase competitive agility. With the largest and fastest growing base of successful customers, Troux delivers results across all key verticals for some of the world’s best known brands including: AstraZeneca, Bayer Healthcare, Boeing, Caterpillar, Cisco, Dell, Disney, Fidelity, JetBlue, HSBC, Lloyds, Telefonica, U.S. Department of Energy, Wells Fargo, Walmart, VMware, Vodafone and Volkswagen Group of America.