Summary of ARI NETWORK SERVICES INC /WI

Item 2.01 Completion of Acquisition or Disposition of Assets

As previously reported in its Current Report on Form 8-K filed on May 1, 2009 (the "Form 8-K"), ARI Network Services, Inc. (the "Company") announced that it completed the acquisition of substantially all of the assets of Channel Blade Technologies Corporation ("Channel Blade") pursuant to the terms of an Asset Purchase Agreement dated as of April 27, 2009 by and among Channel Blade, Charles Lewis, Michael Sifen and the Company. On July 13, 2009, ARI filed Amendment No. 1 to the Form 8-K to provide audited financial statements of Channel Blade as of and for the year ended July 31, 2008 and the period from August 1, 2008 to April 27, 2009 and certain preliminary unaudited pro forma information, which was subject to adjustment pending a final purchase price valuation. This Amendment No. 2 to the Form 8-K is being filed to provide the unaudited pro forma information, adjusted for the final purchase price valuation, required by Item 9.01 of Form 8-K.

Item 9.01 Financial Statements and Exhibits

(b) Pro Forma Financial Information

Attached hereto as Exhibit 99.4 are the revised unaudited pro forma combined financial statements of the Company and Channel Blade.

(d) Exhibits

Exhibit No.                               Description

    2.1     Asset Purchase Agreement, dated April 27, 2009, by and among Channel
            Blade Technologies Corporation, the stockholders of Channel Blade
            Technologies, Inc. and ARI Network Services, Inc.*

    4.1     Non-Negotiable Secured Subordinated Promissory Note, dated April 27,
            2009.*

    4.2     Subordinated Security Agreement, dated April 27, 2009, by and between
            ARI Network Services, Inc. and Channel Blade Technologies Corporation.*

   23.1     Consent of Independent Registered Public Accounting Firm.

   99.1     Press Release issued on May 1, 2009.*

   99.2     Audited Financial Statements of Channel Blade Technologies Corporation
            as of and for the year ended July 31, 2008 and the period from August 1,
            2008 to April 27, 2009.*

   99.3     Unaudited pro forma combined financial statements of ARI Network
            Services, Inc. and Channel Blade Technologies Corporation.*

   99.4     Revised unaudited pro forma combined financial statements of ARI Network
            Services, Inc. and Channel Blade Technologies Corporation.

* Previously filed.