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Bayard Group Buys Minority Stake In WACS
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The co-founders of WACS, Kristine Beck and Dave Hubbard, will continue to lead the company.
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Thursday, December 06, 2007:
Bayard Group, a global investor in energy measurement and efficiency technologies, has taken a minority stake in WACS, a provider of metre data management (MDM) software solutions and decision management technologies. Kristine Beck and Dave Hubbard, co-founders of WACS, will continue to lead the company; they expect to use a portion of the funds for working capital to enable the company to increase sales and marketing activity, deepen R&D capacity and hire key executive and operational personnel.
"We're pleased to become a part of Bayard's vision," said Dave Hubbard, chief technology officer, WACS. "Our team has built the most advanced MDM solution deployed today.
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We're committed to utilise this funding to enhance our leadership position and continue to deliver new and innovative analytical solutions for the industry."
"WACS has shown itself to be the leading MDM provider in the market today," said Cameron O'Reilly, founder and managing director, Bayard Group. "We are pleased to have WACS as part of the family and we're excited about what WACS can achieve with our other member companies."
As with all Bayard companies, WACS will continue its commitment to independently partner and support technology providers based on client needs and preferences.
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