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Help/Systems Ownership Changes; Management Remains in Place

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Audax Group, a Boston private equity firm, has announced it has completed the acquisition of Help/Systems.

Headquartered in Eden Prairie, Minnesota, Help/Systems provides automated operations and business intelligence software for the System i market. Help/Systems products are designed to make the System i more reliable, cost effective, and productive by minimizing human operator involvement and enhancing access to valuable data.

Janet Dryer, president of Help/Systems, will continue to lead the management team, according to an announcement posted on the Audax Web site.

Geoffrey S. Rehnert, Co-CEO of Audax Group, said, "Help/Systems is a leading automation and business intelligence software company serving the IBM System i server market. We look forward to working with management to drive growth by penetrating international markets and completing strategic add-on acquisitions."

Janet Dryer, president of Help/Systems, said "We are excited to have Audax Group as our new partner. Their international experience sourcing and integrating add-on acquisitions will be a key asset for us as we expand our business globally across server platforms."

According to published reports, Audax Group purchased Help/Systems from Summit Partners, a private equity and venture capital firm with offices in Boston, Palo Alto, California, and London, England. Financial terms were not disclosed. Summit purchased Help/Systems in 2005, according to the reports.

Ropes & Gray LLP advised Audax Group. Jefferies Broadview advised Help/Systems. Goldman Sachs Specialty Lending Group, L.P. led a syndicate of lenders providing acquisition financing.

About Audax Group

Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $3.7 billion of equity, mezzanine debt, and senior loan capital. For more information, visit the Audax Group Web site http://www.audaxgroup.com/.

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