LAGUNA HILLS, CA – Aug. 21, 2014: Parallax Capital Partners, LLC (“Parallax”) announced the sale of Seattle based Daptiv Solutions, LLC to Toronto based Changepoint Corporation (Changepoint) on August 20, 2014.
Daptiv is a leading vendor of advanced Project Portfolio Management (PPM) enterprise software that improves the way corporations align strategies, select the most profitable projects to execute, and manage global resources. The product line is offered through an advanced Software as a Service (SaaS) platform that offers flexibility and configurability to its customer base. Changepoint is a leading vendor of on premise Professional Services Automation software products.
“We have very successfully innovated, improved, and expanded the Daptiv offering since our 2010 acquisition,” said John Baldwin, Daptiv CEO. “Changepoint realized the strategic value of combining the organizations to be able to offer an across the board answer on any technology platform.”
The acquisition broadens the companys product offerings and creates immediate geographic growth in all regions, said Brad Clark, Daptiv COO. Combining Daptiv with Changepoint will accelerate several components of the longer term strategy Parallax had set in motion for Daptiv.
Recognized the last two years by industry analysts such as Gartner as the leading SaaS PPM solution, Daptiv is used by over 100,000 customers worldwide.
About Parallax Capital Partners
Parallax Capital Partners, LLC (parallaxcap.com), is a private equity firm focused on acquiring and operating application software and related services companies. Since 1999, Parallax has acquired over 20 companies. Parallax’s previous and current portfolio companies generate over $1.5 billion of annual revenues and have provided significant returns for its investors, partners and employees. Parallax has built an exceptional track record of transitioning divisions, subsidiaries and product lines into successful stand-alone entities.