Precise Software
Encyclopedia
Precise Software Solutions is an Israeli-American company that develops Application performance management
software products.
in 1990 by Haim Kopans, who served the company in various roles (CTO, VP Product Management and Head of R&D) until 2002. Initial funding was provided by Jerusalem Venture Partners
(JVP).
In September 1997 Shimon Alon, formally President and Chief Executive Officer
of Scitex America, became the company’s CEO. He led the company to 14 consecutive quarters of record growth; then in June 2000, Precise completed an initial public offering
on NASDAQ
followed by a successful secondary public offering in November 2000 (the company’s shares were traded under the Ticker symbol
PRSE).
In 1998, a Precise/EMC relationship was formed with a joint development project resulted in an OEM arrangement through which EMC began reselling Precise's technology in its product offerings. Subsequently, EMC took an investment position in Precise).
In 1999, EMC Corporation began selling Precise products in the fourth quarter of 1999. EMC marketed an exclusive bundled version of Precise/Indepth for Oracle, Precise/Indepth for DB2 UDB and Precise/Presto for EMC software, called Database (DB) Tuner, to its customers for use solely with EMC's storage products).
For the year ended December 2002 the company reported revenues of $76 million, up from $56m in 2001 and $27m in 2000; and its 22 consecutive quarters of growth
acquired Precise for about $400 million in cash and 7.4 million shares of its stock for a total of about $609 million.
and Symantec announced their plans for a merger. With Veritas valued at $13.5 billion, it was the largest software industry merger to date. Symantec's shareholders voted to approve the merger on June 24, 2005; the deal closed successfully on July 2, 2005. July 5, 2005 was the first day of business for U.S. offices of the new, combined software company.
To ensure a smooth transition for customers and the new company overall, Symantec continued to support the APM business post closing via a transition services agreement with Precise Software, and an easy migration path was made available for Symantec-branded APM customers. Additionally, Symantec and Vector have signed an agreement allowing Symantec to continue to sell APM software and support to its customers.
Application Performance Management
Application performance management, or APM, refers to the discipline within systems management that focuses on monitoring and managing the performance and service availability of software applications....
software products.
Early history
Precise Software Solutions was founded in Tel AvivTel Aviv
Tel Aviv , officially Tel Aviv-Yafo , is the second most populous city in Israel, with a population of 404,400 on a land area of . The city is located on the Israeli Mediterranean coastline in west-central Israel. It is the largest and most populous city in the metropolitan area of Gush Dan, with...
in 1990 by Haim Kopans, who served the company in various roles (CTO, VP Product Management and Head of R&D) until 2002. Initial funding was provided by Jerusalem Venture Partners
Jerusalem Venture Partners
Jerusalem Venture Partners is an Israeli-based venture capital firm, with offices in the JVP Media Quarter in Jerusalem and in New York City.-History:...
(JVP).
In September 1997 Shimon Alon, formally President and Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Scitex America, became the company’s CEO. He led the company to 14 consecutive quarters of record growth; then in June 2000, Precise completed an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
followed by a successful secondary public offering in November 2000 (the company’s shares were traded under the Ticker symbol
Ticker symbol
A stock symbol or ticker symbol is a short abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both. "Ticker symbol" refers to the symbols that were printed on the ticker...
PRSE).
In 1998, a Precise/EMC relationship was formed with a joint development project resulted in an OEM arrangement through which EMC began reselling Precise's technology in its product offerings. Subsequently, EMC took an investment position in Precise).
In 1999, EMC Corporation began selling Precise products in the fourth quarter of 1999. EMC marketed an exclusive bundled version of Precise/Indepth for Oracle, Precise/Indepth for DB2 UDB and Precise/Presto for EMC software, called Database (DB) Tuner, to its customers for use solely with EMC's storage products).
For the year ended December 2002 the company reported revenues of $76 million, up from $56m in 2001 and $27m in 2000; and its 22 consecutive quarters of growth
Veritas Acquires Precise
On June 2003 Veritas SoftwareVERITAS Software
Veritas Software Corp. was an international software company that was founded in 1983 as Tolerant Systems, renamed Veritas Software Corp. in 1989, and merged with Symantec in 2005. It was headquartered in Mountain View, California...
acquired Precise for about $400 million in cash and 7.4 million shares of its stock for a total of about $609 million.
Symantec Acquires Veritas
On December 16, 2004, VeritasVERITAS Software
Veritas Software Corp. was an international software company that was founded in 1983 as Tolerant Systems, renamed Veritas Software Corp. in 1989, and merged with Symantec in 2005. It was headquartered in Mountain View, California...
and Symantec announced their plans for a merger. With Veritas valued at $13.5 billion, it was the largest software industry merger to date. Symantec's shareholders voted to approve the merger on June 24, 2005; the deal closed successfully on July 2, 2005. July 5, 2005 was the first day of business for U.S. offices of the new, combined software company.
Symantec Spins out Precise
On January 17, 2008, Symantec announced that they were spinning off the Application Performance Management (Precise Software Solutions) business to Vector Capital. Upon closing of the transaction, Precise Software Solutions had again taken over all development, product management, marketing and sales for this APM business.To ensure a smooth transition for customers and the new company overall, Symantec continued to support the APM business post closing via a transition services agreement with Precise Software, and an easy migration path was made available for Symantec-branded APM customers. Additionally, Symantec and Vector have signed an agreement allowing Symantec to continue to sell APM software and support to its customers.