Cloud-based IT management company Apptio has acquired enterprise agile planning startup Targetprocess in a bid to bring together financial governance with agile portfolio management.
Bellevue, Wash.-based Apptio believes that with greater transparency and accountability, Targetprocess will help it offer its clients a holistic view of technology investments across on-premise, cloud, and development resources. From there, they can make smarter decisions about their technology investments and optimize delivery.
Founded in 2004, Belarus-based Targetprocess took 14 years to snag its first funding (a $5 million Series A). Targetprocess helps organizations plan, track, and prioritize work. Apptio describes the startup as “a leading Agile portfolio and work management solution.” The company declined to share how many Targetprocess employees would be staying on with Apptio or how the acquisition, which closed earlier this month, is structured.
Apptio plans to integrate Targetprocess so organizations can “align their portfolio, product management, and software delivery teams with a single source of truth,” according to the company. The result will be called Apptio Targetprocess, which the company promises will bring together Apptio’s IT financial management applications and Targetprocess’s SAFe-aligned solution. The hope is that clients will be able to glean critical insights from a common platform to “accelerate their Agile transformations, manage demand and resource capacity to reduce costs, and track business value of investments through the enterprise.”