Mirus Capital AdvisorsMirus Capital Advisors

OutStart acquires Quelsys, adds Sales Proficiency Management to its Industry-Leading Suite

Boston, MA, May 13, 2004 – Mirus Capital Advisors announced today that the firm has successfully negotiated the merger of Quelsys, Inc. of Norwalk, CT and OutStart, Inc. of Boston, representing the second software transaction for Mirus this quarter. OutStart’s award-winning, product family enables people to know exactly what they need to be better at their jobs and to learn when, where, and how they want. Customers like AT&T Wireless, Kaiser Permanente, Steelcase, the US Navy, and Westland Helicopters rely on OutStart to increase individual and organizational performance, improve knowledge transfer, and lower operating costs. Headquartered in Boston, MA, OutStart has offices throughout the US and Europe.

About Quelsys

Quelsys is a Norwalk, Connecticut-based company that builds and delivers online enterprise Sales and Service Proficiency Management (SPM) solutions. SPM continuously measures and quantifies competency levels of sales and service channels and ensures that products are properly sold, supported, and serviced. Corporations use SPM to shorten sales cycles, increase revenues, and improve customer satisfaction. Companies using Quelsys include Safeco, Analog Devices, Kohler, Volvo, Cardinal Health, Stanley, Hitachi, and Cummins.

About OutStart

OutStart provides learning and knowledge-sharing software applications to mid-market, government, and Global 2000 organizations. OutStart customers build competitive advantage by making customers, employees, and partners more knowledgeable and better trained through superior content development, management, and delivery. The company’s approach is learner-focused and content-centric.

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.

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