Tally Systems Acquires NetBalance Asset Management Technology; IT Ledger Software to Form Core of New Asset Management Offering for CIOs/CFOs.Business/Technology Editors LEBANON, N.H.--(BUSINESS WIRE)--March 6, 2000 Aiming to ease the concerns of CIOs and CFOs trying to balance the delivery of high-quality IT services with return on investment, Tally Systems today announced that it has acquired NetBalance Inc.'s IT Ledger The principal book of accounts of a business enterprise in which all the daily transactions are entered under appropriate headings to reflect the debits and credits of each account. technology. The acquisition includes IT Ledger, NetBalance's flagship financial asset management and business decision support system, as well as other applications and resources. Tally Systems will use the IT Ledger software to form the core of a new IT financial asset management offering that gives technology, financial and business managers the tools to effectively manage IT planning, deployment and support in medium and large organizations. The new offering, to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. in the near future, will capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. an existing integration between IT Ledger and Tally Systems line of asset management products, forming the cornerstone cornerstone Ceremonial building block, dated or otherwise inscribed, usually placed in an outer wall of a building to commemorate its dedication. Often the stone is hollowed out to contain newspapers, photographs, or other documents reflecting current customs, with a view to of a new Tally Systems product portfolio. "We have seen an ongoing evolution of asset management practices beyond simply determining what IT assets you have, to using the information to maximize the business value of the IT enterprise," said Ted Jastrzembski, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Tally Systems. "The acquisition of IT Ledger will allow Tally Systems customers to leverage information about their IT infrastructure to make intelligent management decisions focused on reducing total cost of ownership (TCO (1) (Total Cost of Ownership) The cost of using a computer. It includes the cost of the hardware, software and upgrades as well as the cost of the inhouse staff and/or consultants that provide training and technical support. See ROI. ) and improving efficiency to meet critical business objectives. We are thrilled thrill v. thrilled, thrill·ing, thrills v.tr. 1. To cause to feel a sudden intense sensation; excite greatly. 2. To give great pleasure to; delight. See Synonyms at enrapture. to bring this exciting new technology on board at Tally Systems." IT Ledger is a decision support system for IT infrastructure, unequalled when it comes to exposing the cost of managing IT assets, allowing corporate and IT managers to see a complete and real-time financial picture of their IT enterprise. IT Ledger enables organizations to track life cycle costs, including deployment, installation, configuration, repair, move and disposal costs associated with IT assets, empowering them to make informed decisions about IT operations based on the actual costs of technology ownership. An existing integration with Tally Systems asset management software will allow customers to leverage asset-tracking data within the IT Ledger product suite. The acquisition will greatly enhance Tally Systems asset management portfolio, adding new functionality to address TCO, software license management, leasing and contract management and migration planning, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Raj raj also Raj n. Dominion or rule, especially the British rule over India (1757-1947). [Hindi r Ananthanpillai, CEO of NetBalance. "NetBalance has a solid reputation for meeting the business needs of its clients with outstanding technology. Now Tally Systems can offer their clients a considerable advantage...the ability to manage their IT infrastructure through its entire life-cycle." As Tally Systems and NetBalance are privately held, specific terms of the agreement were not disclosed. For more information about the acquisition, please contact Tally Systems' PR Manager, Mr. Randy Britton, at (603) 643-1300. About Tally Systems Tally Systems Corporation is the world's leading supplier of full-featured asset management and messaging management products, providing software and services to improve the management of end-user systems. Tally Systems' desktop asset management products - including NetCensus and CentaMeter - are currently licensed on over 7,500,000 PCs at more than 10,500 client sites worldwide. Its messaging management product line - including MailCheck and Veranda - is currently monitoring messaging systems Software that provides an electronic mail delivery system. It is made up of the following functional components, which may be packaged together or independently. Mail User Agent supporting millions of users at over 3,000 customer sites. Creativity, entrepreneurship and proven expertise continue to keep Tally Systems at the forefront of developments in an industry where the only constant is change. Visit Tally Systems on the web at: http://www.tallysystems.com |
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