Tally Systems acquires Netbalance
Boston, MA, Mar 1, 2000 – Mirus Capital Advisors announced today that the company has assisted its client, NetBalance, Inc., in a sale to Tally Systems Corp. of Lebanon, NH. NetBalance is the developer of IT Ledger, an asset-management repository that tracks IT life-cycle costs including deployment, installation, repair, and disposal. Tally Systems plans to deploy IT Ledger as part of an upcoming financial asset-management product.
Mirus, a leading merger and acquisition advisory firm specializing in the software and IT services markets, assisted the management and shareholders of NetBalance in conducting a search for a strategic buyer, identifying and contacting prospective buyers, and determining the value of the offers evaluated.
Peter Alternative, the head of Mirus’ software practice, commented that “NetBalanace’s software allows organizations to integrate operational and financial data, thereby enabling CIOs to manage the total cost of ownership (TCO) of their IT assets. This level of analysis and cost information had previously been unavailable to managers. We expect application vendors like Tally Systems to continue pooling their resources in the TCO/asset-management space, which is poised for double-digit growth over the next few years.”
The market for asset-management products and services is expected to reach 4.9 billion in 2003, up from $1.9 billion in 1998, according to Dataquest. The report suggests that customers are expected to adopt integrated solutions that include such elements as an asset-discovery tool, an asset-management repository and an electronic-software distribution system.
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care, and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations, and valuations. For additional information, visit www.merger.com.Back to Transactions