Microsoft Agrees To Acquire Business Software FirmMicrosoft Agrees To Acquire Business Software Firm

Microsoft Corp. on Friday said it has agreed to acquire UMT, a maker of tools for managing software development projects, for an undisclosed amount.

The Redmond, Wash., company said UMT technology would be combined with Microsoft's current Enterprise Project Management products, which are based on Microsoft Office Project Professional 2003 and Microsoft Office Project Server 2003.

The consulting arm of New York-based UMT would remain a separate entity and become the UMT Consulting Group, Microsoft said. The business would assist companies in implementing Microsoft's IT portfolio management software platform.

UMT currently connects its software to Microsoft's project management tools via the latter company's Project Server Gateway. The combined technologies help enterprises identify and prioritize projects, as well as execute against deadlines, scope and budget.

"Through the acquisition, we will be able to more quickly deliver on our vision of bringing project and portfolio management capabilities to all levels of an organization," Chris Capossela, corporate vice president of Microsoft's Information Worker Product Management Group, said in a statement.

Microsoft did not disclose a timetable for completing the acquisition.