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Primavera Posts Record Profits, Revenue
The project and portfolio management software provider also added two new products lines, five offices and 120 employees in 2006.
Primavera Systems has reported record revenue and porfitiability for the 2006 fiscal year (ended Dec. 31, 2006), which marked the project and portfolio management solution provider's 24th consecutive year of revenue growth. Total revenue for 2006 increased organically by 13 percent to $122.7 million.
The company also raised more than $150 million in private equity financing, which it leveraged to add two products lines, five offices and 120 employees through the December acquisition of ProSight, a portfolio analysis solutions company based in Portland, Ore., and PertMaster, a project risk analysis and mitigation solutions company based in the United Kingdom. These two acquisitions are forecasted to help Primavera more than double its rate of growth for 2007 over 2006.
“Primavera’s 23 years of growth are built on a history of enabling customers to drive business value and see significant results,” said Joel Koppelman, Primavera CEO. “Through the acquisitions of ProSight and PertMaster, Primavera customers now have an end-to-end solution to propose, prioritize and select strategic investments, and then to plan, manage and control the portfolio of projects through to completion. Our broader solution set, in…
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