MRO Software, Inc. - formerly known as PSDI, was a software firm based in Bedford, Massachusetts, which published Maximo, the top-selling Enterprise Asset Management system in the market. The company was founded in 1968 by Bob Daniels, and was headed by Norman "Chip" Drapeau for the last half-decade until mid-2006 when it was acquired by IBM. On August 3, 2006 the company was acquired by IBM for cash consideration of $739 million. On April 1, 2007 MRO Software ceased to exist as the Transfer of Trade to IBM took place.