- Neil Aresty, Co-Founder and President, Lextranet
Recent Transaction
Mirus Advises Independent Board of INSCI Corp. on Valuation in WebWare Acquisition
Contact:
Elliot Williams
Location: Massachusetts
Date: Sep 16, 2003
Boston, MA, Sep 16, 2003 - Mirus Securities, Inc. announced today that it has advised the Independent Board of Directors of INSCI Corp. on the valuation and fairness of the Company's recent acquisition of the assets of digital asset management provider WebWare.
INSCI Corp. (OTCBB:INSS), a leading provider of Enterprise Content Management (ECM) solutions announced last week the acquisition of WebWare, a provider of award-winning digital asset management (DAM) solutions. The acquisition, made for cash and stock, offers INSCI growth capability through a broader suite of products, new market opportunities, additional management talent, and expanded worldwide distribution.
According to a statement by the Company, "INSCI's strong partner relationships, large customer base, and market longevity should have, in combination, a positive impact on the development and marketing of WebWare ActiveMedia software products." The statement went on to say "This transaction is anticipated to accelerate the development of the next generation of ActiveMedia SOAP/J2EE platform."
"The product distinction and market visibility of WebWare ActiveMedia provides INSCI additional market presence to affect a growth strategy moving forward," said Henry F. Nelson, INSCI President and CEO. "At the same time, we believe that the WebWare ASP and OEM models offer deployment flexibility and a more predictable revenue stream through subscription-based pricing."
About INSCI Corp.
INSCI Corp. is a leading provider of integrated enterprise content management (ECM) solutions with over a decade of experience providing advanced and cost effective solutions. The Company's highly scalable ESP+ Solution Suite is designed for the capture and long-term preservation of mass volumes of wide-ranging digital assets, with Web-based presentment capability for such content as banking and financial statements, customer bills, explanation of benefits (EOBs), e-mail, digital voice, and transaction confirmations. For more information about INSCI, visit www.insci.com.
About WebWare
WebWare (www.webwarecorp.com) is based in Sausalito, CA and was founded in 1996. Its ActiveMedia software helps Global 2000 firms securely manage, re-use and distribute media assets locally or globally, and is available as either a stand-alone product or fully hosted outsourced service.
About Mirus
Based in Boston, MA and with clients throughout North America, Mirus provides investment banking solutions to middle-market corporations including merger advisory, recapitalizations and valuation services to entrepreneurs, private equity groups and corporate clients. Founded in 1987, Mirus has successfully completed a number of transactions for textile manufacturers and industrial product companies including GiViDi USA, Troy Mills, Sheffield Industries, and AMCEL Corporation. Information about the firm is available on Mirus' web site at http://www.merger.com.
Recent Transactions