Cloud collaboration app Favro to spin out into own company

Cloud-based planning and collaboration app Favro has today announced it will be splitting from Hansoft, a project management software outfit, and spinning off into its own entity.

From a press release, Favro has said that the separation with "serve to enhance Favro’s competitive posture to accelerate the company’s growth strategy."

Favro currently finds itself used a lot by game developers and creative agencies working in the games industry to enable teams to work nearly autonomously, which can be useful for studios collaborating from around the world, or from different sides of the same office. It’s hit a chord with people too, as the company say that the "customer growth (has) really started to take off", so much so that Favro is now able to "stand on its own feet".

Hansoft has been a market leader in project management software for nearly a decade, so Favro will be able to count on the support of the company as it grows.