Has Sold Its Business to Resource Consultants, Inc (RCI)

Exclusive Financial Advisor to Innerbase

Innerbase Technologies, Inc. was a privately held firm focused on providing a broad range of information technology services to a number of Federal Government agencies, including the Pension Benefit Guaranty Corporation, the U.S. Postal Service, the U.S. Department of Agriculture and the Department of Health and Human Services. The Company’s primary IT services included Oracle-related database design, development and administration, web application development, administration and security services and data warehouse design and development work. Since its founding in 1997, the Company had experienced consistent revenue and profit growth. In assessing the Company’s market position in the summer of 2002, the business owner decided that it was the appropriate time to seek to merge his business into a larger IT organization, which could provide a broader array of skills to his clients, provide more career opportunities to his employees and facilitate being able to access new clients.

Innerbase Technologies contacted Outcome Capital to assist them in this process. In its meetings with the Firm’s professionals, the Company found a group that had a strong track record in the Federal IT services market. The Company expressed a desire to have professional representation assist them in structuring and implementing a process in which a small number of strategic buyers would have an opportunity to acquire the business. The firm designed and implemented a process under which several types of buyers were contacted: 1) government professional services firms; 2) commercial IT services firms; and 3) larger diversified firms with distinct technology-oriented business platforms. Our transaction team was able to engage a small number of strategic buyers in serious discussions with the Company.

The process led to the Company being purchased on March, 2003 by Resource Consultants, Inc., a leading government professional services firm that supports the U.S. Department of Defense, a number of federal civilian agencies and state and local governments. Outcome Capitals’ detailed knowledge and experience in the Government professional services market made it possible for Resource Consultants, Inc. to complete the acquisition of Innerbase Technologies, RCI’s first acquisition in the Federal IT services sector.

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