Archive for Saturday, April 22, 2006

Sale gives software firm global reach

April 22, 2006


A Lawrence-based software company was recently sold to a multinational operation that wants to put its financial-compliance product to work.

Ireland-based Trintech Group closed its purchase of Assurity Technologies Inc., 123 W. Eighth St., in a deal valued at up to $5 million - $2 million in cash and another $2 million to $3 million during the next three years, based on sales and revenue performance.

Assurity's signature software product, AssureNET, is used by corporate officials wanting to reconcile, review and certify their general ledgers to assure auditors and investors that the books comply with the Sarbanes-Oxley Act. The 2002 law established stringent financial reporting requirements for companies doing business in the United States.

Assurity will remain at the edge of downtown Lawrence, according to co-founders Heather and Andrew Lynds. The company has seven employees and is looking to add to its sales force.


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