Silverback Enterprise Group, which acquires and builds industry-leading enterprise software companies, has acquired PowerSteering Software, a provider of cloud-based enterprise project and portfolio management (PPM) software, and Tenrox, a provider of cloud-based, workflow- driven project workforce management software. Terms of the transactions were not disclosed.
With more than 500 enterprise customers and 150,000 active users in more than 50 countries worldwide, the combination of these two companies creates the largest pure-play cloud PPM provider in the $1.3 billion PPM software industry. The new combined company will be called PowerSteering Software.
“The combination of











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