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Bytware Sold to Private Equity Firm

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Bytware, Inc. has been sold to Audax Group, the private equity firm that owns Help/Systems and recently acquired PowerTech, industry sources have confirmed.

As in the acquisition of PowerTech, no press release is being issued, and representatives from the companies involved declined comment. The Audax plan, apparently, is for Bytware to continue to operate as it has in the past. Calls to Bytware were not returned nor was one to Help/Systems, which has taken a lead in the upper management approval role of PowerTech. While there is some overlap in the security products offered by the three firms, employees have not been given word on whether there are plans to change the product mix. Since no information about the sale was released, no price was given for the transaction.

Bytware, with headquarters in Reno, Nev., is known for its StandGuard Anti-Virus product for the IBM i, AIX, Linux, and Domino. The company has been a longtime member of the IBM i community.  The company also sells StandGuard Network Security, MessengerConsole, MessengerPlus, StandGuard Recycle Bin, and Peek Plus. StandGuard Anti-Virus uses McAfee's virus detection software in a way that is designed specifically for IBM Power Systems and Domino. StandGuard Network Security is an object-based security application that helps to simplify security management on Power Systems. MessengerConsole allows for central management of multiple partitions and multiple systems. MessengerPlus offers automated monitoring and alerts. StandGuard Recyle Bin offers protection against loss of deleted files, while PeekPlus is a help desk and screen sharing application to ease tech support and facilitate training and customer service.

Bytware began supporting the  IBM midrange community in 1986 and pioneered automated monitoring and notification technology throughout the 1980s. It was the first to come out with a server-based native anti-virus solution for the IBM i back in 2003. It claims an installation in at least one division of every Fortune 100 company.

Audax Group says it 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."

The company says its mission is "to partner with management to build long term value in our companies" and claims "a long and successful history of investing across a wide range of industries and transactions, including leveraged buyouts and recapitalizations, corporate divestitures spin-offs and roll-outs."

The firm employs more than 70 investment professionals in Boston and New York, and in Shenzhen, China, where an affiliate company is based.

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