Financial Services Industry
Industry: Email Alert RSS FeedChicago firm acquires Wausau Financial Systems
Bank News, March, 2005 by Anonymous
Wausau (Wis.) Financial Systems Inc. has announced it has been acquired by Frontenac Co., a Chicago-based private equity investment firm. Wausau specializes in distributed point-of-presentment solutions.
Frontenac Co. bought Wausau from majority stockholder Robert F. Weirauch and two other partners. Weirauch is chairman and CEO.
Simultaneously with the sale, Wausau Financial Systems purchased its product development partner, Kyris Imaging Software. Officials said this strategic move positions the company for growth in remittance processing and retail and wholesale lockbox processing. Terms of both transactions were not disclosed.
Joseph Delgadillo has been appointed president and CEO of Wausau Financial Systems. Previously, Delgadillo spent 17 years at Metavante....
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