Pegasystems
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| Public | |
| Traded as | NASDAQ: PEGA |
| Industry | Software |
| Founded | 1983 |
| Headquarters | Cambridge, Massachusetts, United States |
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Number of locations
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35 (2017) |
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Area served
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Worldwide |
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Key people
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| Products | Customer Relationship Management (CRM), Business Process Management (BPM), customer service, marketing, sales, and robot process automation |
| Revenue |
 US$ 683 million (2015) |
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US$ 36.3 million (2015) |
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Number of employees
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3500 |
| Website | www |
Pegasystems Inc. is an American software company based in Cambridge, Massachusetts. Founded in 1983, Pegasystems develops software for customer relationship management (CRM) and business process management (BPM). Pegasystems specializes in the following industries: financial services, life sciences, healthcare, manufacturing,insurance, government,high tech, communications and media,energy, and utilities. The company announced in 1996 that it would be publicly traded on the NASDAQ stock exchange (PEGA). Since 2010, the company has acquired a number of companies including Antenna Software, Firefly, OpenSpan, MeshLabs, and Chordiant. The company's core product is the Pega 7 software platform.
Alan Trefler founded Pegasystems in 1983 at the age of 28, in Cambridge, Massachusetts. Prior to founding the company, in the early 1980s Trefler had developed computer systems that could play chess. During the company's early years it focused on providing case management, namely for companies such as American Express. Trefler recollects that when he started Pegasystems, he wanted to create software that eased the heavy lifting that business people deal with, as well as software that understood how business-people wanted things to work, commenting "it turns out to be a fairly hard problem to solve." An article in Computerworld traces business rules engine to the early 1990s and to products from the likes of Pegasystems, Fair Isaac Corp and ILOG. As a private company, Pegasystems was "bootstrapped" initially, but did not take on outside investors. The company went public in 1996 with initial and secondary public offerings, and began trading on NASDAQ under the symbol PEGA. Raising several millions in funding in the process, going public freed the company from needing to pursue venture capital investments. Pegasystems entered a period of financial trouble in the late 1990s, following a dispute with its accountants, Ernst & Young. After restating their earnings, Pegasystems faced an investigation by the SEC, which was dropped in 2002.
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