Primavera Systems buys two companies
- By David Hubler
- Dec 14, 2006
Primavera Systems, a project management software provider to government and commercial clients, has acquired ProSight, a portfolio analysis solutions company, and Pertmaster Ltd., a risk analysis and mitigation solutions company based in the United Kingdom.
Although terms of the transactions were not released, the purchases add about 140 employees to Primavera's workforce of 415, according to a company statement. The combined annual revenues of the purchased companies were about 25 percent of Primavera's revenues for 2005, which were $108 million.
'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.
ProSight's 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 Primavera's solutions. Primavera will retain all of ProSight's offices, including its headquarters in Portland, Ore., its federal office in Crystal City, Va., and its development office in Jerusalem.
Pertmaster's risk analysis and mitigation products will be marketed as Primavera Pertmaster, stand-alone software that is compatable with Primavera's solutions. Primavera will retain all of Pertmaster's offices in Britain and the U.S.
'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.'
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.