Mooreland Maintains Deal Momentum in Enterprise Software with Sale of Leading Israel-based Application Discovery Company
NEW YORK – June 1, 2016 – Mooreland Partners, the leading independent investment bank providing M&A and private capital advisory services to the global technology industry, today announced that it acted as the exclusive financial advisor to EZLegacy Ltd. (“EZSource”) on its sale to IBM (NYSE:IBM). The transaction is expected to close in the second quarter of 2016. The acquisition of EZSource further strengthens Mooreland Partners’ position as a leading global M&A advisor on transatlantic, strategic transactions in the Enterprise Software segment.
Headquartered in Israel, EZSource is an application discovery company that helps software developers quickly and easily understand and change mainframe code based on data displayed on a dashboard and other visualizations. The Company’s solution provides a visual dashboard to show developers which applications have changed to ease the process of modernizing applications, exposing APIs and more efficiently leveraging development resources. IBM’s current DevOps offerings, including IBM® Application Delivery Foundation for z SystemsTM and IBM® Rational Team Concert, coupled with EZSource’s application discovery technology, are designed to enable developers to evolve legacy assets at the speed of business with reduced risk to the enterprise.
“IBM customers will benefit from EZSource helping them understand how to build, manage, maintain and modernize their mainframe applications,” said Anne Perlman, Executive Director at Mooreland. “Over 75% of Fortune 500 companies run mainframes, including for cloud computing, yet modernizing the applications that run on those systems is challenging.”