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After raising $46M in its IPO earlier this month, Austin-based Upland Software acquired Toronto-based project management software developer Solution Q last week for $5.8M. It's Upland's seventh acquisition in three years.
Specifically, Solution Q's project and portfolio management application, Eclipse PPM, played a significant role in the acquisition. The purpose-built application geared toward mid-market organizations looking for a turnkey project management and portfolio visibility solution will join Upland's EPM Live product line.
"The acquisition of Solution Q and its SaaS and its project and portfolio management application, Eclipse, adds another built-for-purpose product to our family of cloud-based Enterprise Work Management applications," said Upland's chairman and CEO, Jack McDonald, "and represents the latest step in our commitment to making Upland Software the global leader in this category."
"Eclipse customers include verticals such as Healthcare, Education and Financial Services," McDonald said in a statement. "EPM Live is a highly configurable, cloud-based project management and collaboration application based on Microsoft SharePoint, and used by organizations globally to solve complex project management challenges."
Upland, founded in 2010, currently has more than 340 employees. Its brands include Clickability (California), ComSci (New Jersey), EPM Live (California), FileBound (Nebraska), PowerSteering Software (Massachusetts) and Tenrox (Canada). It's a product of Silverback Enterprise Corp, an Austin-based holding company.
Solution Q, which has 37 employees, was founded in 2002.
