Wausau Financial Systems Announces Sale

Today, Apr 2005

Enterprise transaction processing software developer Wausau Financial Systems (www.wausaufs.com), has been acquired by the equity investment firm Frontenac Company (www.frontenac.com) Wausau Financial Systems specializes in distributed point-of-presentment solutions and is the leader in commercial capture. The company serves financial institutions ranging in size from Top 100 to independent community banks, lockbox providers and commercial billers.

Frontenac's acquisition marks the end of the successful tenure of Wausau Financial Systems CEO Robert F. Weirauch. Joseph Delgadillo has been named president and CEO of Wausau Financial Systems, while the core members of the company's management team will stay in place. Previously, Delgadillo spent 17 years at payment solutions provider Metavante.

"Because of my commitment to the employees and the community, I was very particular about who bought the company," Weirauch said. In addition to finding them to be a "trusted and reputable private investor with strong experience with financial technology companies," he was intrigued by the fact that Frontenac Company has a 30-year history of investing in privately-owned companies in the central states. "I'm certain they will build upon a rich history and take the company to the next level," said Weirauch.

Simultaneously with the sale, Wausau Financial Systems purchased its product development partner, Kyris Imaging Software. This strategic move positions the company for growth in remittance processing and retail and wholesale lockbox processing. Terms of both transactions were not disclosed.