Serena Software to Acquire Project and Portfolio Management Leader.Pacific Edge is Key Addition to Change Governance Governance makes decisions that define expectations, grant power, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes. Sometimes people set up a government to administer these processes and systems. Strategy SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif. -- Serena Software, Inc., the Change Governance[TM] leader, today announced that it has entered into a definitive agreement to acquire Pacific Edge Software, Inc., a leading provider of Project and Portfolio Management (PPM) solutions. With this acquisition Serena will extend its Change Governance offerings to enable customers to control the time, cost, and resource impacts of continuous business and IT change. "We've long understood the integral role that PPM plays in helping IT organizations meet the demands on a business, and after extensive research are confident we are choosing the best solution in the marketplace to meet that need," said Mark Woodward, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Serena. "Pacific Edge has proven their offering in recent competitive wins and has an extensive track record of customer success. The addition of market-leading PPM capabilities to the Serena Change Governance offering enables us to provide unequaled customer value." Change Governance solutions from Serena enable companies to control change by fully integrating the development, implementation, and adoption of change processes and policies across the enterprise. This process-centric approach bridges silos of change throughout an organization and creates a common frame of reference for business and IT that allows them to provide superior quality of service while reducing the costs and risks of implementing change. To deliver on its Change Governance promise, Serena offers core products in Application Lifecycle Management The administration and control of an application from inception to its demise. It embraces requirements management, system design, software development and configuration management and implies an integrated set of tools for developing and controlling the project. (ALM), Operations Process Management (OPM See Oracle Process Manufacturing. ), and now Project and Portfolio Management (PPM). Key products in these categories include Serena[R] Dimensions[TM] 10, Serena TeamTrack[R], and Pacific Edge Mariner Mariner Any of a series of unmanned U.S. space probes sent near Venus, Mars, and Mercury. Mariners 2 (1962) and 5 (1967) passed Venus within 22,000 mi (35,000 km) and 2,500 mi (4,000 km), respectively, and made measurements of temperature and atmospheric density. [R]. "We are thrilled thrill v. thrilled, thrill·ing, thrills v.tr. 1. To cause to feel a sudden intense sensation; excite greatly. 2. To give great pleasure to; delight. See Synonyms at enrapture. to bring together two leading companies and believe our mutual customers will benefit greatly," said Mark Lazar, president and CEO of Pacific Edge. "Both Serena and Pacific Edge are dedicated to providing customers with Change Governance solutions that enable IT to contribute greater value to the enterprise. Together we are an unbeatable combination." Pacific Edge Mariner, the Company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. that began shipping in October 2005, combines portfolio, project, resource, demand, and financial management into an integrated decision-support framework for an organization's PPM initiative. As a powerful and practical-to-adopt solution, Mariner's capabilities can be configured con·fig·ure tr.v. con·fig·ured, con·fig·ur·ing, con·fig·ures To design, arrange, set up, or shape with a view to specific applications or uses: to an organization's specific levels of IT process maturity. As IT organizations mature, more advanced Mariner capabilities can be enabled to drive additional value from their PPM initiatives. Serena expects the acquisition to close by the end of October 2006. About Serena Software, Inc. Serena Software, the Change Governance[TM] leader, provides software and services to more than 15,000 organizations around the world -- including 96 of the Fortune 100 and 90 of the Global 100. Recognized by IDC as the largest software provider focused exclusively on change, Serena offers a new approach to change -- Change Governance -- that enables businesses to efficiently, consistently, and successfully control change across the enterprise. Serena helps companies capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. change to achieve transformative business results. Serena has more than 750 employees worldwide and is headquartered in San Mateo, California San Mateo is a city in San Mateo County, California, in the San Francisco Bay Area. It is one of the larger suburbs on the San Francisco Peninsula, located between Burlingame to the north, Foster City to the East, and Belmont to the south. , with offices throughout the U.S., Europe, and Asia Pacific. For more information, please visit www.serena.com. FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements regarding the closing of the acquisition of Pacific Edge Software and the availability of Pacific Edge Software's products and solutions, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Such risk factors include, among others, satisfaction of the closing conditions to the transaction, the ability of Serena Software to successfully integrate the merged businesses, and customer demand for Pacific Edge Software's products and solutions. Additional information concerning these and other risk factors is contained in the Risk Factors section of Serena Software's most recent Form 10-Q Form 10-Q See 10-Q. filed with the Securities and Exchange Commission. Serena Software assumes no obligation to update any forward-looking statement contained in this press release. Serena and TeamTrack are registered trademarks of Serena Software, Inc. Change Governance and Dimensions are trademarks of Serena Software, Inc. All other products or company names are used for identification purposes only, and may be trademarks of their respective owners. Copyright [c] 2006 SERENA Software, Inc. All Rights Reserved. |
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