Complex sentence: In 1996 a management buy-out from Mannesmann Kienzle created a new company under the Tally name with world headquarters in Neu-Ulm, Germany.
Split into simpler sentences: In 1996 a management buy-out from Mannesmann Kienzle created a new company under the Tally name. Tally's world headquarters was in Neu-Ulm, Germany.