Monday, May 07, 2012

Management Changes at Databank IMX

DataBank IMX has gone through a management shake-up. Co-founder Chuck Bauer was recently named CEO of the U.S.-based service bureau and document imaging systems integration specialist. Bauer had been serving as president COO with Fred Zaeske, who was brought in last year, serving as CEO. Zaeske, a former executive at Zebra Technologies, had been introduced to Bauer and co-founder Dick Aschman by Svoboda Capital Partners, which announced an investment in DataBank last January.

The investment was reportedly taken on to drive additional growth for DataBank, which we understood had been enjoying annual double-digit organic growth at the time. The growth plans included acquisitions, and late last year, DataBank acquired Information Access Systems, an Orlando-based Hyland and IBM Datacap reseller. Zaeske told us to expect two to three acquisitions per year from DataBank, which launched in 2005 when DataBank, Inc. acquired the assets of service bureau roll-up flameout ImageMax to create DataBank IMX.

DataBank IMX seemed to be building some solid momentum, but it's not clear why Zaeske left. In addition, Bob Zagami, director of marketing for DataBank and  a well-known industry personality, departed from DataBank shortly before Zaeske did. Aschman remains a director.

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