TORONTO, ONTARIO, 27 February 2008/PRNewswire/ - Today at the Microsoft "Heroes Happen Here" launch event, Osellus, a leading ALM process automation solution provider, announced the availability of IRIS Process Live 3.0. This new offering simplifies the deployment and governance of software development processes across the project lifecycle. IRIS Process Live is built on and extends the new Visual Studio Team System 2008 being launched at the event.

"As with other areas of IT, software development governance is being driven by escalating IT spending and the need to comply with regulatory and internal standards," said Omid Hodaie, CEO of Osellus. "With IRIS Process Live, software development teams, especially those pursuing the CMMI and COBIT frameworks, can enhance process adoption across their organization while reducing their governance spending."

"Visual Studio Team System 2008 offers a frictionless open platform for enabling a broad range of ALM capabilities," said Ajoy Krishnamoorthy, Senior Product Manager of Visual Studio Team System at Microsoft Corp. "IRIS Process Live is a comprehensive and cost effective process governance solution that leverages these capabilities."

IRIS Process Live is a second-generation enactment system. It supports multiple process definitions in the same project, process instantiation during project execution, workflow intelligence and standard reports for measuring process compliance. The system is methodology neutral but offers built-in support for the COBIT governance and CMMI process improvement frameworks.

About Osellus

Osellus is a leading provider of process improvement and automation solutions for the software development industry. Osellus is a Microsoft Inner Circle Partner and a member of the Microsoft Visual Studio Industry Partner (VSIP) program. Osellus helps software development organizations select, enhance, model and automate the underlying processes that support their application development efforts. By adopting a process-centric development model, Osellus customers are better positioned to meet their time-to-market, quality and cost objectives.

For more information, please visit www.osellus.com or call +1-416-603-6667 or 1-866-OSELLUS (416-603-6667).

Osellus, the Osellus logo, IRIS and the marks relating to other Osellus products and services referenced herein are either trademarks or registered trademarks of Osellus Inc. All other trademarks are the property of their respective owners.