Microsoft acquires UMT, expands project management products
Microsoft today announced plans to acquire UMT, a 16-year old software and consulting firm that offers project and portfolio management products. Microsoft said that it will integrate UMT’s technology into its Office Enterprise Project Management solution, which is based on based on Microsoft Office Project Professional 2003 and Microsoft Office Project Server 2003.
Under the terms of the agreement, UMT will mainatin its current operations until the transaction closes. "Some" members of the UMT executive team and "a number" of UMT product development employees are expected to join the Microsoft Office Project team upon completed acquisition. The consulting arm of UMT will remain a separate entity and become the UMT Consulting Group, Microsoft said.
Financial details of the acquisition were not released.
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