Bayard Group continues on the acquisition trail


Cameron O’Reilly,
Founder & MD,
Bayard Group
Sydney, Australia — (METERING.COM) — December 7, 2007 – The Bayard Group, which has built a global energy measurement business that is now a market leader in electricity meters and has a strong position in the rapidly growing smart metering systems market, has taken a minority stake in WACS, a provider of MDM software solutions, and has acquired Talgentra, a provider of billing and revenue management solutions to utility and airport companies in New Zealand and Australia.

WACS has more than 11 million endpoints under contract. Co-founders Kristine Beck and Dave Hubbard will continue to lead the company; they expect to use a portion of the funds for working capital 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 (AMI), a growing market projected to increase by more than 60 percent by 2011.

"We’re pleased to become a part of Bayard’s vision," said Dave Hubbard, chief technology officer of WACS. "Our team has built the most advanced MDM solution deployed today. We’re committed to utilize 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 of 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."

Meanwhile the ownership of Talgentra has been transferred to Bayard and local private equity group ANZ Capital. Bayard and ANZ Capital are expected to provide an increased impetus for growth to a local business that currently supplies enterprise software solutions to more than ninety electricity, gas, water and airport companies around the world.

Talgentra CEO James Docking commented: “With the recent spate of acquisitions in the software market, we had to consider what was best for our business – in particular what ownership options could support the growth of our flagship solutions Gentrack, mDATA21, Airport 20/20 and ServicePoint. We wanted to avoid a competitor buy-out given the strong business culture and local experience that has underpinned our success over the last 20 years. An ANZ Capital and Bayard Group partnership provides the cornerstone stability required to further develop our own solutions and enhance our business.”

Significant mergers and acquisitions have changed the face of the enterprise application software market globally, resulting in the emergence of ‘super-sized’ US and European vendors competing in the Tier 1 space. To ensure Talgentra continues to successfully compete with its larger competitors, the company’s focus is on being agile and delivering specific local expertise within target markets. Through utilizing the support and experience of Bayard Group and ANZ Capital, Talgentra plans to expand its current footprint further into the US and Europe.

“This new ownership preserves Talgentra’s winning business model, including the specialist business and technical teams employed across our Auckland and Melbourne offices. We will continue to deliver ‘Tier 1 solutions without the tears’. In particular it is a significant opportunity for our mDATA21 product growth in meter data management solutions to support the roll-out of smart metering technologies throughout Australia, New Zealand, USA and Europe.”

These deals position the two organizations to further leverage integration with other Bayard Group companies, such as Ampy, Landis+Gyr Enermet and Cellnet+Hunt, which have been acquired by Bayard in the last few years.