Updata Capital Adds Greg Ager as Partner; Former Wachovia Managing Director and Head of East Coast Software Joins Firm

Business Wire,  Dec 19, 2005  

Tags: Greg, Wachovia Corp.

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RESTON, Va. -- Updata Capital, a leading investment bank specializing in mergers and acquisitions for the information technology industry, today announced that Greg Ager has joined the firm as a Partner, based in the Reston, Virginia office. Ager brings to Updata 15 years of investment banking experience covering the information technology industry, having completed approximately 60 transactions aggregating over $7 billion in value for emerging and middle market technology companies.

"Greg is the perfect complement to our team of M&A advisors who have been guiding software and IT services companies along paths to greater shareholder value over the last two decades," said Kevin McNerney, Partner at Updata Capital. "With his proven track record in the technology industry, Greg has cultivated long-standing relationships with leading companies and investors in the markets that Updata serves. He will be a tremendous asset to our clients."

Prior to joining Updata Capital, Ager was the senior East Coast Technology Investment Banker at Wachovia Securities, Managing Director and Head of East Coast Software. While at Wachovia, Ager spearheaded the build-out of a strong franchise, completing high profile transactions for clients such as Computer Associates, Aspen Technology, Safeguard, Unica, Blackbaud and Vocus.

Earlier, Ager spent ten years in Silicon Valley where he completed transactions for many industry leaders including Oracle, Novell, Proxicom, Scient, Silicon Graphics and AnswerThink. He was a Principal in investment banking at Thomas Weisel Partners LLC, a firm he joined at its inception in 1999. Prior to joining TWP, Ager was a member of the Business Services Investment Banking Group at Montgomery Securities, covering IT services. He held similar positions in San Francisco with the technology investment banking groups at Smith Barney and Morgan Stanley. Ager began his career with the mergers and acquisitions group at Morgan Grenfell in New York.

Greg received an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University and a B.A. in economics and political science from Yale University.

About Updata Capital

Based in Red Bank, N.J. and Reston, Va., Updata Capital, Inc. is a leading investment banking firm specializing in mergers and acquisitions for the IT industry. Since 1987, Updata has advised on more than 400 transactions for e-commerce, infrastructure, financial technology, telecommunications, e-services, software, IT services and security software firms. For the past five years, Factset's Mergerstat has ranked Updata Capital among the top 10 advisors for the computer software, supplies & services industry. Updata Capital is an affiliate of Updata Partners, a venture capital and private equity firm that invests in early and growth stage information technology software and software-based services firms. For more information, please visit www.updata.com.

Updata Capital is a registered trademark of Updata, Capital Inc. All other company or product names listed herein are trademarks or registered marks of the respective owners.

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