Frontrange Solutions Acquires Centennial Software
Frontrange Solutions Acquires Centennial Software
April 29, 2008: IT Software provider, FrontRange Solutions has announced the acquisition of Centennial Software.
Centennial Software is a provider of dynamic infrastructure management products, focusing on auto-discovery, inventory management and license management.Coming off the back of a 35% growth in revenue over the last financial year, FrontRange hopes the acquisition will boost its service management, help desk and client lifecycle portfolio.
“I'm confident FrontRange customers and partners will see this as a natural evolution of our product and company strategy," said Michael McCloskey, CEO of FrontRange Solutions. ”Combined with such obvious synergies in our go-to-market strategies, customer base, geographic presence, and solution focus, the acquisition is entirely logical and provides an ideal outcome for both companies. This acquisition is a reflection of our commitment to global markets, and will further strengthen our international revenues, which already approach half of our total revenues today."
Centennial brings with it a portfolio of more than 3,200 supported customers worldwide, with an additional 200 partners. This will add on to FrontRange’s existing portfolio of more than 10,000 IT customers and 400 partners globally
"We've seen a growing trend of service desk customers selecting ITAM tools based on their satisfaction with the service and support from the service desk vendor, and on the functionality of the service desk product, with an eye toward the potential benefits to be derived from a suite-based solution," said Patricia Adams, research director, Gartner. "Having an accurate idea of what hardware and software is installed in the environment is a necessity to being able to manage it. Essentially, if you don't know what is installed, then it is impossible to keep track of or manage it."
FrontRange acquired Centennial through a share purchase of the entire issued stock, as both companies are privately owned no financial information was disclosed.