Armanino McKenna LLP Acquires Premier Valuation Firm

Purchase of ValueNomics^® Augments Top-100 Accounting Firm's  Business Valuation and Litigation Support Practice, Creates New Presence in Silicon Valley and San Diego

SAN RAMON, CA (April 19, 2005) – Armanino McKenna LLP (www.amllp.com), one of the largest accounting and consulting firms in Northern California and a top 100 firm nationally, announced it has acquired the operations of ValueNomics^® Research, Inc. (www.valuenomics.com), a business valuation, litigation service, and research firm in Cupertino, California.

ValueNomics serves clients nationally ranging from public companies to closely-held businesses.  ValueNomics Founder and CEO Gary E. Jones will join Armanino McKenna as a Senior Consultant. Additional ValueNomics professionals and employees will also join the accounting firm as part of the transaction, which is effective May 1st. Following the acquisition, ValueNomics will continue to operate out of its current Cupertino and San Diego locations.  

The transaction augments and extends the reach of Armanino McKenna's Business Valuation and Litigation Support Practice which includes business valuation, forensic accounting and litigation support in corporate, civil, family law, estate and retirement matters.

"Our firm has long admired ValueNomics' professionalism and reputation of opinions followed," says Andy Armanino, CPA and managing partner of Armanino McKenna. "ValueNomics' staff has extensive skills and expertise in technology and non-tech companies, as well as a client base and geographic reach that fit very well into our strategic plan for growth. We're excited about joining forces and adding greater depth of service for more of our clients" 

Armanino notes that together with his firm's recent acquisition of the healthcare practice of the San Francisco firm of Clare, Chapman Storey & Bowen LLP, the addition of ValueNomics gives Armanino McKenna physical presence in more California population and business centers. "Part of what we're trying to accomplish is to be more convenient to the growing number of clients who need the high-quality services we provide," Armanino says.  

ValueNomics has a trademarked suite of valuation services with differing degrees of scope and complexity to suit any type or size of business. The firm also performs forensic valuation compliance services for state and federal courts, arbitrations, securities regulators and tax authorities.  

In addition, ValueNomics provides research and reporting services to businesses to support many transactions and activities including mergers and acquisitions, competitive intelligence, industry trends, economic trends, transaction data benchmarking, and other services. The firm has performed more than 1,000 valuations for companies in Silicon Valley and other parts of the state as one of California's premier valuation firms. 

Increased Demand for Valuation Services
"Work generated by Sarbanes-Oxley Section 404 and other regulations, minority shareholder disputes, estate compliance as well as valuations of closely-held businesses owned by clients who are preparing for retirement (wealth planning) has driven the rapid growth of both the Armanino McKenna and ValueNomics valuation and litigation practices", says Mr. Jones. 

"Increasing demand has created a need for more resources and capabilities. Our first quarter 2005 billings are up over the previous year by more than 80%," says Jones. "Armanino McKenna is a large, robust, growing firm and a progressive employer. Joining forces with Armanino McKenna will create additional opportunity for us in family law and divorce services as well as in disputes involving damages and lost profits – exactly what we need at this time," Jones says. "Our current and future clients will be well-served by the merging of our firms." 

"Anticipation of even higher rates of growth in valuation and litigation support services drove the transaction forward" says Armanino McKenna Partner Jeff Stegner, who heads the firm's valuation and litigation services practice. 

"ValueNomics is a nationally recognized name in the valuation business," adds Stegner. "Gary Jones and his staff have significant experience in this area which we expect to complement our current expertise. It's a great fit for us and creates more of a one-stop shop for our clients whose needs are becoming more complex every day." 

About Armanino McKenna LLP
Armanino McKenna LLP (www.amllp.com) is a top10 San Francisco Bay Area Accounting & Consulting firm and a top 100 firm nationally in terms of annual revenue. The 52-year-old firm specializes in serving the accounting and consulting needs of waste management companies, non-profit organizations, manufacturing and distribution companies, healthcare businesses and organizations, technology companies and educational institutions. Armanino McKenna employs 150 professionals and staff at its headquarters in San Ramon, as well as offices in San Leandro and San Francisco, California.

About ValueNomics
ValueNomics Research, Inc. (www.valuenomics.com), is a nationally recognized valuation and research firm that serves businesses, including many technology firms from startup to mezzanine-level companies. The firm provides data and other resources to help companies, estates and trustees, courts, attorneys and individuals assign appropriate value to assets and other value drivers for a variety of needs, from mergers and acquisitions to competitive intelligence. Based in Cupertino, California, ValueNomics also provides educational products to the accounting, legal and business communities through books, videos and seminars, including the popular guide "The Business of Business Valuation," McGraw-Hill, 1998.^1.      

¹ ValueNomics is one of several federally registered trademarks of ValueNomics Research, Inc. (the "Company").  These trademarks along with other assets of the Company are being sold to Armanio McKenna, LLP in an asset sale. ValueNomics Research, Inc. will undergo a name change to Monta Vista Alliance, Inc.