Numara Software on Monday relaunched as an independent company specialising in help-desk and asset management software.
The company was formerly the Blue Ocean Software business unit of Intuit before a buyout by TA Associates. Numara has been successful in the US but intends to use the buyout as "a springboard for aggressive growth over the next five years" especially in Europe.
The company is headed by president and chief executive, Dave Weiss, who told ZDNet UK the company plans to develop and acquire new products and services to increase its reach in some of the core areas of software growth.
"I can't talk in detail about our plans," said Weiss, "but two key areas are desktop recovery and change and configuration management".
Weiss stressed that he is effectively heading up Blue Ocean software under a new name. "The people are the same and the products are the same," he said.
The change came about as Intuit, a $2bn company, sought to focus on its core competencies of finance and accounting.
According to Weiss, the new name, reflects the company's wish to retain its roots. "Numara meaning 'New Ocean'", said, Weiss.
The asset management market is worth $866m and should increase at an average of 11.2 percent, says IDC.
Numara sells the Track-It products, which the company claims have 45,000 users worldwide.
Timed with the launch Numara announced Track-It 7 which now features auto-discovery of PC and non-PC assets, and software licensing compliance. "It is vital for companies to know what they have so they can ensure that they are not paying too little and, more importantly, too much for their software," said Weiss.
"We are trying to make it easier for small and medium-sized enterprises to get the best value from their assets," he said.