Mirus completes 409A valuation for Archivas
In early 2006, Mirus Capital Advisors was engaged by Archivas, a storage technology company based in Waltham, MA, to provide the Company with a valuation of its common stock pursuant to IRC 409A, in support of an ISO Plan. Archivas is an object-based storage respository for fixed content that runs in a cluster across standard servers. It stores and retrieves files and metadata as objects rather than files. Users write policies for retention, authentication, data shredding, and protection to meet compliance standards, based on the metadata.
In February 2007, Hitachi Data Systems (HDS) announced that it will acquire Waltham, MA-based Archivas Inc. for approximately $120 million, or four times the amount that Archivas received in venture capital funding. HDS had been reselling the Archivas Cluster (ArC) software on top of its storage systems since Feb. 2006, to compete against EMC Corp’s Centera product, HP’s Reference Information Storage System (RISS), Network Appliance Inc’s Nearstore and IBM’s DR550. Archivas’ investors included North Bridge Venture Partners, Polaris Venture Partners, and Solstice Capital.
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