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PowerSteering Software acquired by Silverback Enterprise Group
Silverback Enterprise Group, which acquires and builds industry-leading enterprise software companies, announced today the acquisitions of PowerSteering Software, Inc., the leading provider of cloud-based enterprise project and portfolio management (PPM) software, and Tenrox, Inc., the leading provider of cloud-based, workflow-driven project workforce management software. With over 500 active enterprise customers and 150,000 active users in more than 50 countries worldwide, the combination of these two companies creates the largest pure-play cloud PPM provider in the $1.3 billion PPM software industry. The new, combined company will be called PowerSteering Software.