DETROIT – Compuware Corp. announced Tuesday that it has signed a definitive agreement to acquire privately held Irish software company SteelTrace for $20 million in cash.
SteelTrace is an information-technology company that creates requirements-management software, which helps an IT system meet actual business needs throughout its lifecycle and better manage software projects.
?Requirements represent the medium of exchange between IT and the business,? said John Williams, Senior Vice President, Product Management and Strategy, Compuware Corporation. ?The addition of SteelTrace to the Compuware family of Application Delivery Management solutions will allow us to help applications organizations more effectively collaborate with their business customers and deliver better applications, faster.?
The acquisition of SteelTrace also adds more muscle to Compuware?s Changepoint IT Portfolio Management software, which helps ensure the effective management and delivery of IT projects, the company said in a press release.
?This transaction represents the natural progression of our long-term relationship with Compuware,? said Fergal McGovern, SteelTrace Founder and Chief Technology Officer. ?SteelTrace is already integrated with key Compuware development and quality assurance solutions, enabling both SteelTrace and Compuware customers to obtain immediate value from this transaction.?
A Compuware spokesman declined to disclose how many people work for SteelTrace, or its revenues. SteelTrace will remain in Dublin.
