In April, Panoramic backed Concorde Solutions, a leader provider of SaaS software asset management solutions, was acquired by Ivanti (backed by Clearlake Capital). Panoramic originally invested in Concorde in 2011 and provided additional funding in 2014 from Fund 1. The sale to Ivanti represents the fourth exit from this fund.
The press release issued by Ivanti is shown below:
“Ivanti Acquires Software Optimization Expert Concorde Solutions, Extends IT Asset Management Capabilities
Empowers organizations to better determine effective license position and manage their entire software asset portfolio
Today, Ivanti (backed by Clearlake Capital) announced that it has acquired Concorde Solutions (“Concorde”), a leading provider of SaaS software asset management (SAM) solutions, specializing in managing software licensing complexity in the data center across hybrid IT environments. This acquisition, Ivanti’s ninth in five years, extends the company’s IT Asset Management (ITAM) offerings, providing customers with additional insights and control to help organizations model and improve their effective software license position.
Concorde’s license optimization technology allows customers to manage and optimize software licensing for both client-side applications, as well as complex, server-based enterprise products like those offered by Oracle, Microsoft, VMware and IBM. Operating at the heart of software asset management, Concorde’s Core Control addresses license compliance, purchasing efficiency, change management and service management. Through its SaaS platform, Concorde provides enhanced entitlement management and decision modeling to help customers gain better visibility and control to maximize their software investments.
“With this acquisition, Ivanti is advancing its lead in SAM by filling a critical unmet need within the greater ITAM ecosystem,” said Ivanti CEO Steve Daly. “By bringing together Concorde’s software licensing expertise and Ivanti’s asset intelligence and endpoint management capabilities, we’re providing customers total asset management from a single point of control. Due to our close collaboration over the past year, we will be able to offer customers immediate access to the enhanced portfolio of solutions.”
According to Gartner’s latest global IT spending forecast update, organizations will spend $332 billion on software in 2016. Many organizations can cut spending on software by as much as 30 percent by implementing three software license optimization best practices. The report explains: “A SAM tool can automate, accelerate and improve manual processes. It can pay dividends over manual alternatives, and can often pay for itself.”*
“Software asset management is a critical discipline for any enterprise today and the team at Concorde has done an extraordinary job of addressing increasingly complex areas of IT governance, control and operational efficiency,” said Andy Burton, chairman of Concorde.”We look forward to seeing the combined business having an even greater impact in providing much-needed solutions for complicated asset decision-making processes in the enterprise IT estate.”
A former Ivanti One partner, Concorde’s participation in the technical alliance program provided Ivanti with the opportunity to vet the technology and determine its value to the Ivanti customer base before acquiring the company.
With the help of the Concorde team, based in Reading, U.K., Ivanti plans to invest in ongoing development and integration to further leverage Concorde’s technology and expertise to help organizations optimize spend across client and data center applications, minimize the cost and time of completing audits and make budget cycles more predictable.
The terms of the acquisition are not being disclosed.
*Gartner Press Release, Gartner Says Organizations Can Cut Software Costs by 30 Percent Using Three Best Practices, Australia, July 19, 2016”