Microsoft Buys Project Software Firm

Microsoft on Friday announced plans to acquire software and intellectual property from United Management Technologies, which it will integrate into the next revision of Office. UMT provides project and portfolio management software that already connects with Microsoft Office Enterprise Project Management.

"With UMT's technology and portfolio framework, we will extend the Office EPM Solution to offer an end-to-end enterprise project and portfolio management solution," said Chris Capossela, corporate vice president of Microsoft's Information Worker Product Management Group. Financial terms of the deal were not disclosed.