Pegasystems

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Pegasystems Inc.
Public
Traded as NASDAQPEGA
Industry Software
Founded 1983
Headquarters Cambridge, Massachusetts, United States
Number of locations
31
Area served
Worldwide
Key people
Products Customer Relationship Management (CRM)
Business Process Management (BPM)
Revenue IncreaseUS$ 590 million (2014)
IncreaseUS$ 33.3 million (2014)
Number of employees
3000+
Website www.pega.com

Pegasystems Inc. is a publicly traded American software company based in Cambridge, Massachusetts, with offices throughout North America, Europe and Asia. It has several products that focus on customer service and predictive analytics.

History[edit]

Pegasystems was founded in 1983 by CEO and Chairman Alan Trefler. The company went public in 1996 and began trading on NASDAQ under the symbol PEGA. Pegasystems' customers are in various sectors such as financial services, insurance, healthcare, communications & media, life sciences, and government.

The company survived some major financial trouble during the late 1990s following a restatement of earnings for 1997 due to a dispute with its accountants, Ernst & Young.[1] This led to an investigation by the SEC which was dropped in 2002 [2] and a lawsuit from disgruntled shareholders which was resolved in 2000.[3]

Acquisitions[edit]

For the first 27 years of its corporate history, Pegasystems focused entirely on organic growth. Since 2010, several strategic acquisitions have been made with every time a focus on rebuilding the acquired product into the main product codebase rather than integrate separate technologies. Pegasystems has been known for promoting a single unified architecture in comparison to its much larger rivals, IBM and Oracle who grew their competing products lines, such as IBM BPM 8 and Oracle Fusion Middleware via acquisitions of technologies kept separate well after the acquisition.

On March 15, 2010, Pegasystems announced that it had acquired the enterprise software company Chordiant for approximately $161.5 million.

On October 10, 2013, Pegasystems acquired Antenna Software, a mobile application development platform vendor, for $27.7 million. [4]

On July 3, 2014, Pegasystems announced it had completed the acquisition of Profeatable Corporation, the provider of Firefly co-browsing technology, based in Philadelphia, Pennsylvania. Terms of the deal were not disclosed.[5]

PegaWORLD[edit]

PegaWORLD is Pegasystems’ annual user conference. In 2014, the conference was held at the Gaylord National Harbor Hotel, in National Harbor, Maryland. The two-day user conference in June 2014 was the largest-ever for Pegasystems, and featured several speaking sessions led by large global organizations such as BNY Mellon, Vodafone, UnitedHealthGroup and Lloyd’s Banking Group, among others.[6]

Analyst Rankings[edit]

On April 27, 2015, Pegasystems was named a leader by Gartner in the Magic Quadrant for the CRM Customer Engagement Center[7]

On March 18, 2015, Pegasystems was name a leader by Gartner in the Magic Quadrant for Intelligent Business Process Management Suites[8]

On March 12, 2015, Pegasystems was named a leader by Garner in the Magic Quadrant for BPM-Platform-Based Case Management Frameworks[9]

References[edit]

External links[edit]