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NetWorth Services buys into Quality Attributes Software
Friday 09 November 2012

9 November 2012 - US financial software solutions provider NetWorth Services Inc said on Friday it had bought a majority stake in local firm Quality Attributes Software (QAS), a management software specialist.

The buyer did not say how much it paid for the holding, whose exact size also remained undisclosed.

NetWorth Services had been actively looking for acquisitions before identifying QAS as the best target as it proved to have the most advanced and unique tools on the market, the buyer noted.

QAS, based in Bayville, New Jersey, was set up in 2003 and is active in building intelligence and energy management. According to NetWorth Services' CEO Nico Willis, its latest product IntelliFace has the potential to change profoundly the industry. The buyer's expertise will allow QAS to develop its full potential on the market, he added.

IntelliFace is an end-to-end data collection product that collects, manages, analyses and stores facility data from various sources and in various formats. It also helps companies reduce building energy and resource expenses, consumption rates and carbon emissions to ensure optimal sustainability. The product will be presented to the public during the Greenbuild International Conference & Expo event next week.

NetWorth Services is a software as a service (SaaS) financial and database software firm based in Phoenix, with additional offices in Philadelphia and New York. Its major product is Netbasis, a web-based application that gathers security pricing data to determine the adjusted cost basis of securities traded in the US.
Date Published: 09/11/2012
Target: Quality Attributes Software (QAS)
Country: USA
Sector: Computer software
Type: Corporate acquisition
Status: Closed
Buyer: NetWorth Services Inc