Acquisition news also drove Intraware, Inc. (Nasdaq: ITRA) higher Monday. The company, which operates an online marketplace for information technology software and services, said it would buy Janus Technologies, Inc. for $24.25 million in stock.
Janus makes information technology asset-management tools that “enable organizations to significantly reduce the cost of ownership of their IT assets,” Intraware said.
Intraware, based in Orinda, California, said the acquisition will “significantly expand” its offerings to corporate customers and “provide a complete software life-cycle solution for managing IT assets.”
The company cites a GartnerGroup survey finding that just 20 percent of Fortune 1000 companies use specialized software for their information technology and telecom costs and operations, though such asset-management programs are likely to be a top priority at 70 percent of global corporations by 2003.
“Intraware has heard the comments of our customers over the last year that IT asset management is becoming an increasingly complex and difficult problem within corporations,” said President and Chief Executive Officer Peter Jackson.