IBM buys Canadian project portfolio management vendor

Big Blue acquires maker of PMOffice project portfolio management suite

IBM Corp. has agreed to buy Montreal software developer Systemcorp ALG for an undisclosed sum, the companies said Tuesday.

Fourteen-year-old Systemcorp makes PMOffice, a project portfolio management suite of applications for tracking and prioritizing corporate projects. The suite includes modules for managing project costs and charges, reusable templates, time tracking, collaboration, resource planning and version tracking, among others.

Pending Canadian regulatory approval of the acquisition, IBM expects to complete its buyout within 30 days and begin selling PMOffice directly within a month of the deal's close. IBM plans to incorporate Systemcorp into its Rational software development group, and to integrate Systemcorp's technology into the IBM Software Development Platform, its portfolio of programming and design tools.

Systemcorp, a long-time partner of Armonk, New York-based IBM, currently has 70 employees, most of whom will be offered jobs at IBM, an IBM spokesman said.