In yet another sign of incremental improvement in the IT M&A market, Updata Advisors is pleased to announce that an affiliate of Versata Enterprises has acquired Everest Software, a leading provider of retail and wholesale business management software based in Dulles, VA. Updata acted as financial advisor to Everest in this transaction.

This deal highlights Updata’s strength in advising application software companies through the sale process, even in times of economic difficulty. “The acquisition by Versata provides an outstanding path forward for Everest’s customers and products,” said Edwin Miller, Everest’s CEO.

On the heels of other recent Updata transactions such as QuickArrow’s sale to NetSuite and AXS-One’s acquisition by Unify, this deal marks Updata’s eighth transaction for 2009. Updata maintains a full pipeline and expects to see even more deal activity through the end of 2009 and into 2010 as the recovery develops.