Exigen Group Acquires Some Of Portera

Exigen Group Portera

Exigen Group, a developer of line-of-business applications and a business process outsourcer, bought Portera's professional services automation business. Portera also has a government contractor's business.

Similar to Portera's ASP model, Exigen Group charges customers on a pay-as-you-go and pay-as-you-use basis. Portera's ServicePort, a subscription-based set of online applications, will be integrated with Exigen's line-of-business application suites and also offered as a stand-alone service, according to the company.

Exigen Group's line-of-business applications target the financial services, insurance, government and communications industries.

As of January of this year, Portera said it reached cash-positive status. The company did not detail its earnings at the time but said that its revenue increased more than 125 percent in 2001 and it closed 121 new deals during the year, including ones with the New Zealand government and DynCorp.

Portera also received a $16 million cash infusion led by Van Wagoner Capital Management during the fourth quarter of 2001, bringing the total investment made in the company to $120 million.

Greg Shenkman, CEO of Exigen Group, will be CEO of the combined company.

Terms of the deal were not disclosed.