Business Engine Acquires Xylogy Research; Acquisition Brings Process Compliance to Project Portfolio Management

Business Wire, July 6, 2006

SAN FRANCISCO -- Business Engine, a leading provider of project and portfolio management software solutions, today announced the acquisition of Xylogy Research, a privately-held provider of graphical process management technology.

Xylogy's technology is unique in its ability to graphically model business processes that IT and Engineering organizations can use to govern project-based work. Project Management Organizations (PMOs) can finally bring to life proven methodologies such as PMBOK, Prince2 and Six Sigma that have in the past been disconnected from project and portfolio management software solutions. As a result, organizations can now more quickly redesign their business processes in response to market conditions and, at the same time, increase end user compliance. The Xylogy technology allows new process models to be created in a few short hours that are immediately automated within an integrated PPM user experience.

"By combining with Business Engine we can further exploit the Xylogy technology by redefining the manner in which all types of users interact with enterprise software," said Simon Wild, Xylogy's Founder and Chief Architect.

Over the past year, Business Engine has been successfully executing against a profitable growth strategy while delivering new and innovative products to the market. Xylogy's technology, experienced team, and attractive customer base will immediately bolster Business Engine's continued momentum in the project and portfolio management market.

"We've all known for a while that if the software tool and the business process are disconnected, project failure rates increase. The combination of Xylogy's flexible, easy-to-use process modeling and Business Engine's proven PPM software connect the dots for customers who want to go beyond traditional workflow. The market is ready for a solution that will finally cure the common affliction of low compliance rates and end user dissatisfaction in a meaningful, purpose-built way. At the end of the day, software tools without process compliance is a good way to automate the wrong answer, and that's the dirty secret most other software companies don't want to admit", said Mark Strauch, Business Engine's President and CEO. "By adding Xylogy to the Business Engine family, we are marrying tool and process, making possible a level of governance that other PPM providers simply cannot provide."

The BEN is the premier, industry-proven(1) choice for bringing financial governance to project-driven organizations. By integrating the entire project and application portfolio within a single, Web-based enterprise solution, the BEN provides organizations with the operational and financial transparency to quickly make informed decisions, control execution and measure results.

About Xylogy

Xylogy is the leading provider of integrated governance tools that assist organizations with the challenges of managing large and complex projects. Founded by Simon Wild and Jim McLean in 1999, the company recognized early on that integrated tools did not exist at an affordable price to manage technical and IT projects and software development, or to package implementation projects from end-to-end. Xylogy's customer base includes Raytheon, Sydney Airport, Citect, and Sydney Water.

About Business Engine

With more than 20 years experience in developing innovative enterprise applications, Business Engine is the leading provider of project and portfolio management solutions that enable global organizations to financially govern and proactively manage their investments in IT and R&D. Business Engine solutions provide industry-leading organizations with visibility and control to align corporate objectives with portfolio investments, make informed decisions and generate greater ROI. Our customers and their customers rely on Business Engine solutions for cost transparency into where investment dollars are being spent and what they are delivering in return. Business Engine serves over 80,000 end users at more than 500 global organizations, including Capital One, Western Asset Management, Northrop Grumman, Deutsche Bank, Merrill Lynch, Siemens and Tesco.

Visit www.BusinessEngine.com for more information.

(1) Business Engine was declared a 'Leader' in the March 2006 Forrester Wave(TM) report entitled "Project Portfolio Management, Q1 2006".