Los Gatos, CA, September 8th 2007: SatoriTech Inc. today announces that they have acquired all product assets and associated intellectual property of Provment Development AB in Stockholm, Sweden.
Provment was founded in 1997, by the creators of the main resource accounting and capacity planning applications for the
Provment had tremendous success in the Swedish market. In 2002, the Harvard Business School recognized what Provment was doing with the Swedish Postal Payments system, and wrote a case study on how the Provment system helped consolidate servers - before VMware was even founded. By 2006, Provment had racked up an impressive list of reference customers in , including the leading players in financial services, logistics, and government agencies.
The success of VMware in bringing virtualization to the datacenter enabled “mainframe-like” resource sharing on open system servers, but also created a real problem for organizations in terms of lack of visibility, metering and accounting of resource usage in the virtual environment. Provment found itself at the center of attention with its unique capabilities to solve this challenge based on years of development work and customer deployments in the Scandinavian region. “We are impressed with what Provment achieved in the Scandinavian market and excited about the opportunities to bring Provment’s unique and proven capabilities to Global 2000 companies”, says Brad Albright, CEO of SatoriTech Inc. “Driven by the roll-out of virtualization technologies, there is a tremendous market opportunity for solutions that create visibility and control for CFOs and CIOs, which provides the ability to manage IT to achieve the greatest possible performance and efficiency.”
Torsten Wenell, founder of Provment and principal inventor of the underlying technologies, says: “I am excited about SatoriTech’s vision and capabilities to take the innovations we developed to new levels of performance and to the global market. I am eager to work closely with SatoriTech’s executive team to build upon what we achieved in Scandinavia to address the needs and opportunities of the Global 2000 market.”
SatoriTech Inc. is a privately held company headquartered in Los Gatos, California. Their SatoriAnalytics creates actionable visibility into the productivity and economics of IT operations and drives significant resource efficiency gains in virtualized environments. SatoriTech's unique technology for normalized metering of compute capacity, usage and operating costs makes it especially well suited for heterogeneous server environments where physical and virtual machines are shared by a variety of internal and/or external consumers of IT services. For more information go to www.satoritech.com ### About SatoriTech Inc.
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