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PMG Confirms Acquisition of Symularity

SICKLINGHALL, Leeds. --- 30 August, 2003 --- Today, PMG announced its acquisition of Symularity Ltd, a specialist in collaborative working technology. This agreement will enable PMG to accelerate the completion of the next generation of its Program Management and Collaborative Working software application, Hydra version 4. The consideration was in the form of 30% of the equity of PMG. As part of the deal the enlarged company received further funding from existing and new shareholders to help finance the continued investment in the product and growth in the business.

"The acquisition of Symularity represents an important step in the development of PMG" comments, Heath Gray, Director of Marketing. "The integration of Symularity and Hydra is the culmination of our aggressive product development plan. We examined a number of tools in the market which address various aspects of the collaborative working process, but regard this one as by far the most comprehensive, covering the full lifecycle of Knowledge and Collaborative Management in a single offering. By combining the resources of these two highly complimentary companies we will continue to set new standards in the provision of leading-edge Program Management Software. "

"We recognised that here are many software tools in the market that enable web-based team working by providing an environment that supports the access and sharing of information and limited communication facilities. There are also other software tools that enable the indexing and retrieval of electronic information. But to facilitate a true collaborative working process, organisations currently must either deploy a number of separate software applications or further extend their product toolset. Now, with the powerful combination of Hydra and Symularity, customers have a unique and integrated set of Program Management and Collaborative Working tools"

"Hydra is designed specifically to address today's complex web of business issues: managing people, projects, programs and performance, across locations. Integrated with Symularity, Hydra will allow customers to further reduce operating costs through faster team creation and by reducing travelling and meeting expenses; improve the effectiveness of their project management with leading edge collaboration tools, and improve customer / partner retention by integrating them into the fabric of the organisation. "

"This will be delivered through: workspaces that provide customisable views on projects; a comprehensive range of collaboration tools (e.g. instant messaging, videoconferencing, application sharing, and shared whiteboards etc.); event-based notification that allows every team member to be kept up-to-date on activities; and an organisational memory that allows you to create, manage and search validated knowledge assets. Customers can now gain full value from corporate knowledge and work more cost-effectively and collaboratively within their project and program teams than ever before." said Gray.