Bayard Group has taken a minority stake in WACS, a provider of meter data management software solutions and decision management technologies for utilities. Bayard Group is a global investor in energy measurement and efficiency 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 research and development capacity and hire key executive and operational personnel. In addition, WACS joins the Bayard family of companies focused on providing a wide array of energy management technologies globally. The investment accelerates WACS' growth prospects among organizations around the world implementing advanced meter infrastructure, a growing market projected to increase by more than 60 percent by 2011.
This deal positions WACS to further leverage integration with other Bayard Group companies, expanding on partnerships like those already achieved with Cellnet+Hunt at Puget Sound Energy (PSE), Washington state's oldest and largest energy utility, to create a seamless, end-to-end AMI and MDM solution.