Austin company acquires cloud-computing firm
Silverback Enterprise Group (SEG), an Austin-based software company, recently completed a transaction that could help it improve its operations. According to the Austin-American Statesman, the business purchased San Diego's EPM Live, a cloud-computing firm, as it seeks to further enhance its reputation. This acquisition could substantially impact local residents and people who are exploring some of the homes for sale in Austin because SEG could increase its profits and help the city's economy.
Jack McDonald, SEG chairman and CEO, said that EPM Live could help his company become a leading vendor for cloud project and portfolio management software.
"The [project and portfolio management] market is growing faster than the enterprise software industry as a whole, and cloud is the fastest growing segment of that market," McDonald told the newspaper. "The acquisition of EPM Live increases the scale and resources of the...business so we can capitalize on this tremendous growth opportunity. At the same time, it gives our clients access to a broader range of [project and portfolio management] products."
SEG plans global outreach
With the acquisition, SEG could increase its worldwide reach and expand its clientele.
SEG currently has a presence in Boston, Montreal and San Diego, and also employs sales staff in London. However, company officials said the recent acquisition allows the business to assist more than 800 enterprise clients and over 250,000 users in 50 countries.
EPM Live CEO Joe Larscheid praised SEG and said that it is great to partner with a company that is focused on developing standout products. He noted that SEG officials recognize the importance of positive results for customers and workers alike, and is committed to helping both parties.
Growing companies in Austin
Recent data show that more Austin-based companies like SEG are expanding, and these businesses can help the city's economy thrive.
The U.S. Bureau of Labor Statistics notes that the Austin area has added 6,700 nonfarm positions between May 2012 and September 2012. This region's unemployment rate also fell 0.5 percent during this time frame, a positive sign for the area's economy.
Companies that continue to improve can help make Austin more attractive to entrepreneurs and homeowners. Newcomers could pursue houses throughout the city, and as more properties sell, the value of these residence may rise.
The current housing market offers plenty of opportunities to obtain quality homes, so check out the real estate available in Austin to become a resident of this city.