Daptiv Buys PPM Partner in Australia

Projects@Work

The acquisition of Bluenova acquisition will increase Daptiv's company revenue by about10 percent and position it to capitalize on the fast-growing market for PPM solutions in the Asia Pacific region

Daptiv, Seattle-based provider of project portfolio management solutions, has expanded its global footprint in Asia Pacific with the acquisition of Bluenova, an Australian project portfolio management company. The acquisition is the first in a series of corporate initiatives to aggressively execute against Daptiv's plan to extend its position as the global leader in on-demand PPM solutions, according to company officials.

The Bluenova acquisition will immediately increase Daptiv's company revenue by about10 percent and position the company to capitalize on the fast-growing market for PPM solutions in the Asia Pacific region. It will also allow Daptiv to provide direct support to existing customers in the region.

According to a 2009 Gartner report, the market for PPM software is valued at more than $1.1 billion with a compounded annual growth rate of 7.5 percent forecast through 2014. By far, the fastest-growing segment of PPM tools is software-as-a-service (SaaS) offerings such as Daptiv, which is expected to grow as the industry shifts to a cloud computing-based model. PPM software is particularly well-received in countries such as Australia where CIOs rank IT …

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