Companies are increasingly turning to social business tool to supplement traditional project management and agile approaches. In response, large vendors are adding cloud-based features and communication tools to existing product suites.
Planview today said it has acquired Projectplace, a Stockholm-based collaboration in the cloud company, to blend more collaboration into its current line of portfolio management and agile products.
The Austin, Texas-based company said the acquisition will help both large enterprises and smaller teams make better use of their resources.
"With this acquisition we continue to transform Planview to fulfill a broader vision of portfolio and resource management," CEO Greg Gilmore said in a statement.
In a video that accompanied the announcement, Chief Product Officer Patrick Tickle, shown above, explained how Planview is moving to a "no matter how you work" model.
"There's a whole other part of every portfolio, in every enterprise, in every organization that's still unaddressed by traditional projects and agile," he said. "It's that unstructured task, collaborative project work that happens every day. It's the things that eat up our day, the things that keep us busy, the things we're doing all day long every day outside of the agile portion and traditional project portfolio."
The Projectplace deal is intended to focus on those areas.
"We have been searching for the perfect match in the North American market and I'm really glad that our two companies have found each other," said Projectplace CEO Johan Zetterstrom, who will become general manager of the Projectplace unit of Planview.
The companies didn't disclose the cost of the acquisition or other details, but did say the deal will further cement SaaS as the company's primary business model and give it a combine value of $125 million with two major product lines -- Projectplace and Planview Enterprise.