Integrated operations bridge U.S., Australia, and U.K. relationships for financial services companies

Boston, MA — September 19, 2001 — Covington Associates, seasoned M & A advisors to technology and healthcare, today announced the sale of selected operations and trading assets of its client, Information Management Associates, Inc. ("IMA"), to AIT (USA), Inc. ("AIT"), a leading provider of CRM solutions for the financial services industry. IMA's suite of CRM products, marketed under the EDGE trademark, since 1991 have become a standard for excellence in CRM systems. Selected intellectual property rights (IPR), customer contracts, and operating and trading assets are included within the $16.5 million deal.

More specifically, AIT will acquire IMA operations throughout the U.S., Australia, and the U.K., plus its established base of over 1,000 customers7#151;including 50,000 installed license seats in 27 countries- within multiple industries. The international network broadens the reach of AIT marketing and sales arms, generating a blue-chip installed base of clientele and licensing, service, and maintenance revenue. In addition, IMA's proprietary software, which combines the sales, marketing, automation, and lead acquisition capabilities constituting the modern call center, enhances the features and bolsters the quality of AIT's main offering: a single view of each customer in real-time across multiple channels, including the call center, branches, wireless frequencies, and the Internet.

"The main gap in our product offering, which contributed to our need to restructure, was the lack of web enabling and multi-channel capabilities required by our customer base," said Paul Frederick, President of IMA, in a news release dated September 19, 2001. "This issue will be successfully addressed by immediate access to AIT's Portrait product set and provides significant long-term opportunities for IMA customers. The EDGE and Portrait product lines offer outstanding integration and complementary potential which is news that has been extremely well received by our customers and partners."

About Covington Associates
Covington Associates are seasoned M & A advisors to technology and healthcare. Focused exclusively on mergers and acquisitions, Covington Associates has established a track record of success based on deep domain experience and an unrivaled level of service from a team of senior advisors. Since 1991, the firm has successfully completed over 50 transactions ranging in size from $10 million to over $1 billion in e-services, software, IT services, and healthcare technologies. To learn more about Covington Associates, visit www.covingtonassociates.com.



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