Software maker Pegasus Imaging Corp. consulted longtime outside attorney Evelyn A. Ashley during its negotiations to acquire a rival company.
Ashley, founding partner of corporate law boutique Trusted Counsel LLC, said she’s been working with Pegasus since 1996. The Tampa, Fla. company was founded in 1991.
Pegasus, based in Tampa, Fla., declined to disclose the specific price it paid for AccuSoft Corp., Ashley said. But a press release described it as being an “eight-figure deal.” The deal didn’t involve outside financing. Additionally, neither company had ever received venture-capital funding, she said.
“They are bootstrap companies,” Ashley said.
The ongoing problems with the U.S. economy hovered over the negotiation of the deal, but never presented any major obstacles to its closing, Ashley said.
“There was a close watch on exactly what AccuSoft’s sales were, making certain the price was in line with what their performance was,” she said.
Pegasus makes digital-imaging software, including ImagXpress-brand software development kit, used in the medical industry and in other fields. AccuSoft, of Northborough, Mass., is involved in a similar business. Both companies are privately held.
Choate Hall & Stewart partner Larry Gennari in Boston advised AccuSoft.