Catapult Advises Silverback on Acquisition of Tenrox

Feb. 15, 2012 - PRLog -- Catapult Advisors LLC announced today that it advised Silverback Enterprise Group on the acquisition of Tenrox, Inc.

Tenrox, based in Montreal, Canada, provides SaaS-based project management software to over 800 organizations including IBM, GE, Rio Tinto and the US Army. The Tenrox acquisition is a critical step in Silverback’s strategy to build the leading provider of cloud-based project and portfolio management software.  

Tenrox’s operations will be combined with the operations of Silverback portfolio company PowerSteering Software. The combined company will operate under the PowerSteering name and will have over 500 active enterprise customers and 150,000 active users in more than 50 countries worldwide.

“Catapult Advisors was a tremendous partner to work with, from the start of the project, through the finish,” said Jack McDonald, CEO of Silverback. “Their deep understanding of the software landscape and their extensive transaction expertise were huge assets to the Silverback team. We look forward to working with Catapult again in future as we grow our business.”

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Catapult Advisors is an investment bank and M&A advisory firm serving the software and internet sectors.