Microsoft Corp is buying New York-based portfolio management software maker UMT for an undisclosed sum to strengthen its Office personal productivity suite.
UMT’s internet protocol and other software assets will be folded into Microsoft’s Office Enterprise Project Suite according to company officials.
Certain UMT executives and product development staff will be retained; the latter joining Microsoft’s Office Project team. However Microsoft is not buying UMT’s consulting business, which will be split into a separate business entity.
The UMT Portfolio Manager software suite comprises of modules to manage projects, applications, assets, processes and products. The software helps companies identify and prioritize project portfolios and manage deals, deadlines, and budgets.
Through the acquisition [of UMT], we’ll be able to more quickly deliver on our vision of bringing project and portfolio management capabilities to all levels of an organization, said Chris Capossela, vice president of Microsoft’s information worker product management division.
Founded almost 15 years ago, UMT also maintains offices in London, UK and Bucharest, Romania. The company’s software is used by Global 1000s including AXA Financial, Bristol-Myers Squibb and BT.