REYKJAVIK, Iceland–(BUSINESS WIRE)–Tempo, a leader in productivity-enhancing project management solutions,
today welcomes Diversis Capital as a new strategic owner with a
controlling interest in the company. Former owner and founder, Origo,
will retain a 45% stake in Tempo, and remains an important partner.
“We are very pleased to announce new ownership by Diversis Capital with
their wide experience of working with unique tech companies and the
tremendous opportunity for growth that this brings,” said Agust
Einarsson, CEO of Tempo. “Diversis has demonstrated their value to
investments through its collaborative approach using their operating
partner and strategic advisors working alongside management to take
companies to the next level. Additional financial support will lend
further strength to Tempo’s global growth.”
Created in 2007 as an internal tool to track time utilization and
management on JIRA, Tempo has grown into one of the most successful apps
on the Atlassian market, serving customers across the globe and of all
industries. Tempo provides a user friendly, high performance software
suite for time tracking, resource management and budgeting. Tempo
enables organizations to plan, optimize, and effectively manage
resources as well as budget and track project costs, and report time for
“Tempo is widely regarded as the premier product for JIRA users within
the Atlassian ecosystem,” said Ron Nayot, a managing director of
Diversis Capital. “As the industry continues to grow, we want to expand
the product offering of Tempo in order to serve customers even better,
allowing integrated time and resource tracking across all the
operational processes that customers use.”
Diversis plans to invest in Tempo and accelerate growth of the company
in cooperation with the previous owner Origo. Tempo’s immediate focus
will be international growth, continued investment in R&D, improved
customer service and additional product diversification.
“We are excited to partner with Tempo’s management team and Origo at an
important step in the business, where the Company’s momentum needs to be
amplified to offer customers the maximum value from Tempo’s compelling
software suite,” added Ryan Tanaka, a Vice President at Diversis Capital.
Origo’s CEO, Finnur Oddsson, stated, “Tempo has been a success story
since its inception about 10 years ago. For the next chapter in this
story, we are excited to bring Diversis on as a partner to further
support Tempo’s development and growth. We believe that Diversis’ unique
expertise in software development, marketing and technical support will
allow for accelerated new product development and refinement of Tempo’s
existing solutions. While we remain committed in our support of Tempo,
we very much look forward to our partnership with Diversis, which brings
new competence to Tempo, ensuring continued and enhanced success in the
Tempo’s mission is to empower the world’s most productive teams. Every
day it helps people achieve their potential as smart, efficient and
productive team members by building the world’s most useful, effortless
and valuable tools for time, resource and cost management.
With headquarters in Reykjavik, Iceland and a North American presence in
Montreal, Canada, Tempo provides a user friendly, high performance
software suite for time tracking, resource management and budgeting.
Tempo enables organizations to plan, optimize, and manage resources,
budget and track project costs, and track and report time for team
efficiency. Tempo has over 12,000 customers worldwide, ranging from
small startups to the largest global enterprises including Amazon, BMW,
Pfizer, HomeAway, PayPal, Hulu, Dell, and Disney.
To learn more about Tempo, visit www.tempo.io.
About Diversis Capital
Founded in 2013, Diversis Capital, LLC (“Diversis”) is a private equity
firm that invests in lower and middle-market companies, targeting
situations where it can add unique value in helping a company reach the
next level. With a collaborative approach to investing, its operating
partners and strategic advisors work alongside management teams to help
build successful organizations positioned for long-term growth. The firm
focuses on standalone deals, carve-outs, partnerships and special
situations that require sharp financial acumen, creativity,
collaboration and operational expertise to reach success. Diversis,
which was founded by Managing Directors Ron Nayot and Kevin Ma, is
currently in full acquisition mode with a goal of executing several
For more information, please visit www.diversiscapital.com.
Origo hf. (NASDAQ:ORIGO) is a long-established, publicly listed Nordic
IT services and solutions provider with offices in Iceland and Sweden.
For over two decades, Origo has been assisting its customers with
technical leadership, through the supply of the best-available
technology, applications development, systems integration, facilities
management and expert business process consultancy. Origo corporate
roots can be traced back to 1899 with the very inception of “office
Today, under the leadership of CEO Finnur Oddsson, Origo aims to be the
technology partner of choice for businesses, from the smallest to the
largest enterprises. With expertise in understanding and linking the
needs of enterprise customers to competitive technology solutions, Origo
uses its deep knowledge of mission-critical processes, hardware and
application requirements, to focus on government and industries sectors
with high support needs such as healthcare, financial services,
logistics and aviation.
For more information, please visit www.origo.is.
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MediaÁgúst EinarssonCEO[email protected]+354