- Larry Heitz, past CEO, Photo Stencil
RCW Mirus Advises NetBalance in Sale to Tally Systems Corp.
Date: Mar 01, 2000
Boston, MA, Mar 01, 2000 - RCW Mirus 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.
RCW 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, a principal and the head of RCW 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.