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Cranes Software Acquires the Worldwide Marketing & Sales Rights of InventX(TM) ePM; Cranes to Invest in InventX(TM) ePM Project Portfolio Management Solution, Product Development and Life-Cycle Management

Posted on: Monday, 24 October 2005, 06:00 CDT

Cranes To Offer Customized Solutions around the Product Framework for Current & Future Customers Worldwide

Cranes Software International Ltd., a global scientific and engineering software solutions provider, today announced that it has acquired the sales and marketing rights of InventX(TM) ePM, a Project Portfolio Management Solution, and will make substantial investments to maximize its growth potential. Cranes Software will also extend customized solutions around its product domains to current and future customers worldwide.

Cranes Software will leverage the extensive reach of its global sales and distribution network in 39 countries and 350,000 customers using its products and solutions to market and promote the sales of InventX(TM) ePM.

Cranes Software will provide all current and future customers with product development and implementation support for InventX(TM) ePM through a dedicated offshore development center. This will involve investments in product upgrades, customer and implementation support, technical and after sales support and continual trouble shooting. The entire life-cycle for this product in line with its roadmap, including version control and enhancements and lifecycle management etc., will be managed by Cranes Software. The Company plans to invest $3 million to $4 million over the course of the year and employ 50 to 60 people towards this effort.

Cranes Software also plans to offer customer-centric technology solutions and service offerings for enterprise wide applications in the key practice areas of Analytics; Enterprise Project Portfolio Management, Six Sigma consulting, and Enterprise Applications.

InventX(TM) ePM supports communication, collaboration, and coordination of an organization's diverse personnel and project resources to maximize the potential for project success for globally dispersed project teams. Some of the customers include Texas Instruments, Novartis, World Vision, Dell and Target.

Asif Khader, Co-founder and Managing Director, Cranes Software, commented, "InventX(TM) ePM blends seamlessly with our objectives and we stand firmly committed to growing this initiative to take an end-to-end offering to customers. Overall, this is a key milestone for our business, and takes us closer to our objective of establishing globally competitive capabilities."

For more information, visit http://www.cranessoftware.com.

Source: Business Wire

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