Peregrine Returns From Chapter 11 - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Business & Finance

Peregrine Returns From Chapter 11

Peregrine plans to focus on developing and selling its core asset- and service-management apps.

Software maker Peregrine Systems Inc. completed its journey from the financial abyss Thursday, becoming, it claims, the first public software company to reorganize successfully under Chapter 11. Peregrine plans to focus on developing and selling its core asset- and service-management applications, having divested itself of derivative business ventures such as help-desk software and trucking fleet-management services.

Peregrine was forced to file for Chapter 11 bankruptcy protection 11 months ago after the Securities and Exchange Commission determined the company would have to restate financial results for 11 quarters in fiscal years 2000, 2001, and 2002, reducing reported revenue of $1.3 billion by $509 million.

During the past year, Peregrine has cut 80% of its staff and restructured to focus on its core ServiceCenter and AssetCenter software products, says CEO Gary Greenfield, who in June 2002 replaced former Peregrine chairman and CEO Steve Gardner. The 20-year-old company also replaced its board with a new crop that Thursday took the reigns.

Peregrine has some good products that help companies track their assets, Forrester analyst David Friedlander says. "It's not simply tracking what you have deployed but rather what contracts you have attached to [a piece of hardware or software], when it comes off lease, and who the service providers are for a given asset." Now, Friedlander says, the company can concentrate on integrating its products with each other and with third-party software such as network-management frameworks and purchasing systems.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
How COVID is Changing Technology Futures
Jessica Davis, Senior Editor, Enterprise Apps,  7/23/2020
10 Ways AI Is Transforming Enterprise Software
Cynthia Harvey, Freelance Journalist, InformationWeek,  7/13/2020
IT Career Paths You May Not Have Considered
Lisa Morgan, Freelance Writer,  6/30/2020
Register for InformationWeek Newsletters
Current Issue
Special Report: Why Performance Testing is Crucial Today
This special report will help enterprises determine what they should expect from performance testing solutions and how to put them to work most efficiently. Get it today!
White Papers
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll