Serena Software announces its intent to buy Pacific Edge Software to add Portfolio and Project Management to the Serena fold.
Serena Software announced that it has agreed to acquire Pacific Edge Software, a maker of project and portfolio management software.
Serena, based in San Mateo, Calif., builds ALM (application lifecycle management) software.
The company announced its intent to acquire Bellevue, Wash.-based Pacific Edge on Oct. 4.
The companies did not disclose the financial terms of the deal; however, Serena officials said they expect the acquisition to close by the end of October.
Serena identifies its primary focus as "change governance," and the company views the Pacific Edge acquisition as an opportunity to bolster both its portfolio and its market position by adding a solution to help enable customers to control the time, cost and resource impacts of continuous business and IT change, Serena officials said.
"Weve long understood the integral role that PPM plays in helping IT organizations meet the demands on a business, and after extensive research are confident we are choosing the best solution in the marketplace to meet that need," said Mark Woodward, president and chief executive of Serena, in a statement.
"Pacific Edge has proven their offering in recent competitive wins and has an extensive track record of customer success.
"The addition of market-leading PPM capabilities to the Serena Change Governance offering enables us to provide unequaled customer value."
Click here to read more about Serenas purchase of TeamShare.
Meanwhile, "We are thrilled to bring together two leading companies and believe our mutual customers will benefit greatly," said Mark Lazar, president and chief executive of Pacific Edge.
"Both Serena and Pacific Edge are dedicated to providing customers with Change Governance solutions that enable IT to contribute greater value to the enterprise."
Woodward said that to deliver on its change governance message, Serena offers products in the ALM space, the OPM (Operations Process Management) space and now PPM.
The companys key products in these categories include Serena Dimensions 10, Serena TeamTrack and the newly added Pacific Edge Mariner, which combines portfolio, project, resource, demand and financial management into an integrated decision-support framework, the company said.
Pacific Edge brings a list of customers to Serena, as well as technology partnerships with companies such as Hewlett-Packard, BMC Software, Business Objects, Microsoft, Novell and Troux Technologies.
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