FOR IMMEDIATE RELEASE
Corum Leads Sale of PowerTech to Help/Systems on Behalf of Audax
BELLEVUE, Wash., August 12, 2008 Corum Group Ltd. today announced the acquisition of its client, PowerTech Group, Inc., the leading independent provider of security software applications for IBM mid-range computers, by Help/Systems, Inc., together with Audax Group.
This transaction marries Help/Systems global distribution channels and customer base with PowerTechs leadership in security software, said Corums executive vice president, Nat Burgess.
The acquisition of PowerTech supplements Help/Systems product offering in the security software market. Audax will continue to work with management to execute a growth strategy focused on international markets, new product introductions, and strategic add-on acquisitions.
About PowerTech
PowerTech is the leading security expert in managing evolving compliance and data privacy threats with automated security solutions for IBM Midrange Servers. Because IBM Power Systems are used to host particularly sensitive corporate data, it is imperative organizations practice proactive compliance security. As an IBM Advanced Business Partner with over 1000 customers worldwide, PowerTech understands corporate vulnerability and the risks associated with data privacy and access control. PowerTech hosts iNSIGHT, the annual IBM i Security and Compliance conference each year.
About Help/Systems
Help/Systems develops, markets, and supports the world's leading System i software solutions. We devote 100% of our research and development to System i software solutions, so we always will be here for the System i user. For more information, visit www.helpsystems.com.
About Audax Group
Audax Group is a premier source of investment capital for middle market companies. Established in 1999, Audax manages over $4 billion of capital through its private equity, mezzanine debt, senior secured debt and affiliate funds. Audax focuses on investing in companies with leading market positions and superior management teams. For more information, visit www.audaxgroup.com.
About Corum Group
Corum Group Ltd. is the global leader in merger and acquisition services, specializing in serving software and information technology companies worldwide. For nearly 25 years Corum has created the standard for success. With offices in eight countries, Corum has completed over US $6 billion in transactions spanning six continents. Corum also educates the industry with its popular conferences and publishes the most widely distributed IT M&A research. Corums principals are highly experienced former tech CEOs, who are supported by the industrys leading researchers, writers and valuators. The company has spent more than US $20 million to build the worlds largest and most comprehensive buyer database. This knowledge base combined with Corums experience and industry expertise, consistently ensures unequaled success in client engagements. For more information, visit www.corumgroup.com.
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