- Jay McNally, Founder and CEO, Ibis Consulting
Recent Transaction
Mirus Capital Advisors Serves as Advisor on Sale of Ai Squared
Contact:
David Hoffer
Location: Boston, Massachusetts
Date: Sep 11, 2006
Technology Investment Capital Corp. Finances Buyout of World Leader in Software for the Visually Impaired
Mirus Capital Advisors, a middle-market investment bank, announced today that it served as the exclusive financial advisor to Ai Squared in its acquisition by Technology Investment Capital Corp. (NASDAQ: TICC) of Greenwich, CT, and an individual investor.
Located in Manchester, VT, Ai Squared provides screen magnification software and related products that make computers accessible to visually impaired users by magnifying and speaking what appears on the screen. The company’s products address a significant market need, as shown by the results of a recent Microsoft and Forrester Research study. The study reported that 46 million Americans, or 27% of the U.S. population, have some visual impairment, and approximately 57% of U.S. computer users between the ages 18 to 64 would benefit from assistive technology due to mild to severe impairments.
“Ai Squared is the undisputed market leader in screen magnification software,” said David Hoffer, the Mirus partner who managed the transaction. “The company has an 18-year track record of success and an international dealer network. Its assistive technology products are relied on by individuals, government agencies, and corporations to enable people with low vision to do their jobs and be more productive. Buyers were universally impressed by Ai Squared’s stellar reputation, technology leadership, customer-centric culture, and devoted personnel.”
“The Mirus team was extremely effective and professional in engaging multiple buyers and positioning our business for sale,” said Ben Weiss, president of Ai Squared. “They negotiated exactly the deal I wanted to enable me to move on with the next phase of my life. In addition, I wanted to ensure that a buyer would carry on my vision for product excellence, outstanding customer service, and continuing innovation, while continuing to grow the business in Vermont. TICC shares those objectives fully, and I am delighted that Mirus steered the transaction with them to a successful conclusion.”
About Ai Squared
Headquartered in Manchester, Vermont, Ai Squared is a worldwide leader in computer access solutions for the vision impaired. Ai Squared’s screen magnification and screen reading products dramatically improve a computer’s usability for the low vision user, raising their level of productivity, satisfaction and independence. The family of Ai Squared products includes ZoomText and BigShot. For more information please visit Ai Squared at www.aisquared.com.
About Technology Investment Capital Corp.
Technology Investment Capital Corp. (TICC) is a publicly traded business development company principally engaged in providing capital to small to mid-size technology-related companies. While the structures of its financings vary, TICC looks to invest primarily in the debt of established technology-related businesses. Companies interested in learning more about financing opportunities should contact Barry Osherow at (203) 661-9572 or visit TICC’s website at www.ticc.com.
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in the areas of software, online media, business services and niche manufacturing. Founded in 1987, Mirus provides corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. Additional information about the firm is available at www.merger.com.
Recent Transactions