Daptiv Accelerates Asia Pacific Growth with Acquisition of Project Portfolio Management Company

SEATTLE, WA – Dec. 2, 2010: Daptiv, the on-demand leader in project portfolio management software, today announced it has expanded its global footprint in Asia Pacific with the acquisition of Bluenova, an Australian project portfolio management company. The Bluenova acquisition will immediately increase Daptiv’s company revenue by roughly 10 percent and position the company to capitalize on the fast growing market opportunity for PPM solutions in the Asia Pacific region. It will also allow Daptiv to better serve its global enterprise customers by providing direct, regional support. This 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 a 2009 Gartner report1, the market for PPM software is valued at more than $1.1 billion with a compounded annual growth rate (CAGR) 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 governance and portfolio management as the second highest priority behind aligning IT and business goals.

“Daptiv is one of the early pioneers of the PPM SaaS market and is consistently strong in its approach to PPM,” stated a recent Forrester Wave™ report2. “It’s versatile, providing a user-friendly entrance into PPM for organizations that are reluctant to take a big-bang approach to portfolio management.”

As part of the acquisition, Bluenova’s staff will join Daptiv as full-time employees. Daptiv will retain Bluenova’s existing offices in Sydney and Brisbane focused on sales, marketing, professional services and support with plans to open an office in Melbourne. Additional offices in Asia Pacific are expected as the business expands. Bluenova and Daptiv’s joint customers will continue to receive the outstanding service and support they’ve come to expect and Charl Morkel, Bluenova’s CEO, will become the director of Daptiv’s Asia Pacific operations. Morkel has more than 15 years of experience delivering Internet applications and technologies and has spent the past five years spearheading the introduction of Daptiv PPM into the Asia Pacific market.

Daptiv’s software is used by more than 80,000 subscribers worldwide across industry verticals ranging from healthcare to education, technology and financial services, among others. Since 2005, Bluenova has managed dozens of implementations of Daptiv PPM for customers throughout the Asia Pacific region, spanning consumer, education, financial services and government industries with organizations such as Virgin Blue Airlines, the University of Sydney, the Department of Corrective Services NSW, FuturePlus, and CLSA, among others.

“Bluenova is an established partner of Daptiv, and we share the same high standard of excellence in our approach to product development and customer support,” said John Baldwin, chief executive officer, Daptiv. “With the Bluenova acquisition we are adding a talented team that is able to more effectively serve our customers with comprehensive regional support, distinguishing us from other companies that require a reseller or channel-based PPM solution.”

“Effective project management is the cornerstone of strategic business initiatives and a critical element to helping organizations run their businesses more effectively and efficiently,” said Charl Morkel, director, Asia Pacific, Daptiv. “Daptiv’s ability to innovate and provide a SaaS-based solution for companies worldwide underscore’s Daptiv’s vision and commitment to building customer-centric products.”

1Gartner, Inc., “Market Share: Project and Portfolio Management Software, Worldwide, 2009,” Laurie Wurster et al, 15 April 2010, G00175887

2The Forrester Wave™:Project Portfolio Management, Q4 2009”, December 21, 2009

About Daptiv
Founded in 1997, Daptiv is the leading provider of on-demand Project Portfolio Management (PPM) solutions. Daptiv has helped thousands of companies improve their strategic planning and business execution by offering adaptable PPM solutions and expert professional services. Daptiv’s customers include world-class organizations such as Beam Global, Ikon, Coach, Harvard University, Honeywell, InterContinental Hotels Group, and Delta Dental.