29 April 2004 Software tools vendor Compuware has bought Changepoint, a project portfolio management software supplier, for $100 million in cash.
Compuware, which has been on the acquisition trail in 2004, says the Changepoint deal positions it to meet growing demand for what it terms ‘IT governance’.
Changepoint originally billed itself as a supplier of professional services automation software to project-driven professionals such as consultants, lawyers and architects.
That scope has since been narrowed to a focus on IT organisations.
Compuware president and CEO Peter Karmanos said the acquisition will enable the technology company do a better job helping CIOs “run their organisations like a business.”
“We can kick in the door of a CIO’s office with a more compelling message,” he added.
Changepoint, which was founded in 1992, expects to report $30 million in revenue in its current financial year. Its major customers include Siemens, Dell and MasterCard. All of its 190 employees will join Compuware to form a new business unit.
Gerry Smith, Changepoint’s president and CEO, will become an executive vice president of Compuware. Changepoint’s software will be renamed Compuware IT Governance Changepoint.
The deal follows Compuware’s February 2004 acquisition of Covisint, a provider of data-messaging services and industry portals for the automotive industry.
