Planview, the enterprise software company recently acquired for $ 1.6 billion by TPG and TA Associates, is making an acquisition of its own with plans to buy Seattle-based Changepoint and San Mateo, Calif.-based Clarizen.
The three companies are similar, offering software for project portfolio management, or PPM. The vertical includes a flurry of others such as ServiceNow and Smartsheet, and is getting increased attention with the acceleration to digital services amid the pandemic.
Terms of the transaction, expected to close in the first quarter, were not disclosed.
Changepoint originally launched in 1994. It was acquired by Compuware in 2004, then purchased again by Marlin Equity Partners in 2014. Changepoint later acquired Daptiv in 2014. The company will keep its Seattle footprint and its 200 employees will join Planview after the deal closes, as will Clarizen’s 180 workers.
Changepoint CEO Matt scheuing will report to Planview CEO Greg Gilmore.
Austin-based Planview currently employs more than 700 people and has 3,500 customers. It was acquired for $ 1.6 billion last month.