Artemis Management Systems Inc., the world`s largest provider of enterprise project and resource management software solutions, today announced that it has merged into the Proha Group Plc. The merger, which allows Finland-based Proha to expand its global distribution network, is expected to close by the end of August 2000. For the past three years, Artemis has been a wholly owned subsidiary of Gores Technology Group.
Artemis Management Systems is an international, high-end project management software and consulting firm that specialises in providing advanced, scaleable multi-project, resource, and task management business software solutions for a diverse range of industries. Proha has operated as one of Artemis` major sales and distribution representatives and has developed Artemis-compatible products since 1983. Once the deal is complete, Artemis will operate as a wholly owned subsidiary of Proha Plc.
Proha plans to achieve substantial product development advantages with the acquisition of Artemis which maintains an international software development organisation. Proha will also utilise Artemis` worldwide distributor channels to launch additional product platforms inclusive of the marketing of Proha`s own current successful line of software and consultancy products. "In the international software industry, the importance of distribution channels is paramount. The owner of customer relations will succeed in the market. Our aim is to be the leading, worldwide distribution channel," said Pekka Pere, Proha`s managing director.
"This agreement validates Artemis` long-term growth strategy and will help us to fully realise Artemis` potential," said Steven Yager, president and CEO of Artemis Management Systems. "The merger with Proha will enhance our financial position by bringing more investment ability, which can be used for product line investments, additional acquisitions and other growth objectives. Proha and Artemis have many complementary products which can now be distributed through a much wider network."
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Proha Plc
Finland-based Proha Plc is a fast growing, profitable, international IT services company that concentrates on management solutions for the Internet age. Its key business areas are project management, financial management and Internet technologies. After this acquisition, Proha will employ approximately 450 people and operate in 27 countries. Over 50 percent of its pro forma net turnover originates from abroad. In sync with its international strategy, Proha will continue to strengthen its position in the US, Europe and Japan. For more information, visit www.proha.fi.
Artemis Management Systems
Founded in 1976, Artemis is the world`s largest provider of enterprise project management software and consulting solutions. The Artemis toolset is a sophisticated suite of project planning and control applications that can be customized and optimized for specific strategic requirements. Artemis Views is an integrated suite of role-based client/server and Web applications for multi-project planning, budget and cost control, resource tracking, and performance reporting. Artemis Views is used by IS/IT and geographically dispersed organisations in a variety of industries - including banking and finance, telecommunications, aerospace and defence, utilities, oil and gas, pharmaceuticals, manufacturing, and engineering and construction - to improve project and resource performance and processes. Headquartered in Boulder, Colorado, Artemis operates from an international network of 40 offices in more than 25 countries worldwide. For more information, visit www.artemispm.com.
Gores Technology Group
Gores Technology Group (GTG) is a leading international technology acquisition and management company. Over the past ten years, GTG`s focus has been on identifying and acquiring high technology companies and managing them for growth and profitability.
GTG currently manages a portfolio of 10 companies with a customer base of over 7,500 corporations and individuals and over 1.3 million users. GTG`s portfolio companies provide worldwide distribution, services and support for a broad range of software and technology-based products. GTG`s portfolio companies have 75 offices in 40 countries throughout the world with approximately 50 percent of revenues derived from outside North America. For more information, visit www.gores.com.