Changepoint, a Canadian software company recently bought by U.S. private equity firm Marlin Equity Partners, has acquired Daptiv Solutions LLC, a provider of pure SaaS-based PPM software. The seller in the transaction was U.S. private equity firm Parallax Capital Partners, which acquired the Seattle, Washington-based Daptiv in 2010. Financial terms on the latest deal were not disclosed. Toronto’s Changepoint, which specializes in professional services automation and project portfolio management software, was bought by Marlin in January from Compuware Corp. Compuware paid US$100 million in 2004 for its acquisition of the previously venture-backed company.
Changepoint Acquires Daptiv
TORONTO, ON–(Marketwired – Aug 21, 2014) – Changepoint, a privately held company backed by Marlin Equity Partners and leading provider of on-premise and hosted professional services automation (PSA) and project portfolio management (PPM) software, announced today it has acquired Daptiv Solutions, LLC, the leading provider of pure SaaS-based PPM software.
“Changepoint and Daptiv have both been recognized as industry leaders by analyst firms including Gartner, Forrester and TSIA,” said Jim Byrnes, president and CEO of Changepoint. “The combination of Changepoint and Daptiv provides customers with the most comprehensive and flexible PPM and PSA solutions from the respective market leaders and is part of an aggressive growth strategy.”
The acquisition gives Changepoint a broader reach of world-class solutions, making it the only company to have recognized market leading solutions in both PSA and PPM with complete customer delivery flexibility, including on-premise, hosted and pure SaaS. With the combined resources, expertise and intellectual property, the company will be well-positioned to meet the diverse needs of customers of all sizes, from small installations up to the largest and most complex enterprises.
The two companies combined will:
Maintain, support and evolve both leading product lines to offer the most robust, end-to-end and scalable services and work management solutions on the market.
Preserve and extend the value of customers’ investments by incorporating the best of both technology platforms to deliver valuable and pioneering advancements in both product lines.
Leverage the respective operational and technological strengths of both companies to substantially increase revenues, profit, growth and customer reach/retention.
Serve an even larger base of over 900 customers and an extended user community. The company will also have an increased global presence with 300 employees and operations across six continents.
“Together, we will maintain, support and advance both product lines,” said Brandon Evans, Changepoint Vice President of Technology. “Changepoint is now in the enviable position of having proven world-class software solutions that span across varying delivery methodology requirements of customers, and will continue aggressive development to meet and stay ahead of the ever-changing needs of our markets.”
News of the acquisition is being lauded by experts close to the industry.
“While traditional on-premise software providers, such as Changepoint still dominate the PPM and PSA market, the fastest growing market segment is SaaS, on-demand software,” said John Ragsdale, Vice President of Technology Research, TSIA. “Changepoint’s addition of Daptiv allows it to address both traditional and emerging market segments with leading solutions. Changepoint customers can now choose between on-premise, hosted and pure on-demand solutions.”
Changepoint manages critical customer business processes allowing technology services and IT teams to deliver more customer value, make smarter business decisions, and achieve new efficiencies, while operating with strong financial acumen. Recognized year over year as a market leader, Changepoint’s professional services automation and project portfolio management software is relied upon by leading technology companies, and service focused IT organizations worldwide. Changepoint is headquartered in Toronto, Canada. For more information visit www.changepoint.com.
Barokas Public Relations
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