The portfolio-management software business of UMT has been acquired by Microsoft for its own Project line. UMT's Portfolio Manager products support global selection and tracking of an organization's major IT projects against a common set of business metrics and goals. IT portfolio management is a growing business for major project management software vendors, such as Primavera, but until now Microsoft has promoted add-on products from partners such as UMT and ProSight for portfolio management with Project.

Major UMT clients include Bank of America, BT, Bristol-Myers Squibb, and Transamerica. Once the acquisition has been approved, UMT will retain its consulting business as a separate unit, but some members of its executive team will join Microsoft's Project team. Financial terms were not disclosed. UMT's Web site is www.umt.com. Microsoft's enterprise project management products are outlined at www.microsoft.com/project.