VMS provider Provade is spinning off into its own company in a restructuring of the business. Provade Cloudware Inc., the new parent company, made the announcement today. The new firm plans to add outside investors and personnel in the next several months to drive growth in its new cloud direction.

Provade had been acquired by Dallas-based staffing provider Pinnacle Technical Resources in 2011. Pinnacle will still hold a portion in the new firm, and the companies will continue to work together. Provade Cloudware President and CEO Hans Bukow is also a shareholder of the new firm, as are most of the members of new company’s executive board.

“This restructuring establishes Provade’s technological direction and transformation for the future,” Bukow said. “Provade’s Cloud VMS will be inherently cloud and mobile, thus giving customers the ability to more efficiently and economically flex the scale and skills of their just-in-time workforce. New cloud VMS technology will seamlessly provide improved access to talent through a more powerful flexible workforce supply chain platform.”

Bukow took over the leadership of Provade from founder EJ Jackson in 2014

The headquarters of the new firm will be established in the San Francisco Bay Area. It will also continue to have operations in Milwaukee.

“We are enthusiastic about the path forward for Provade and are delighted to be able to play an ongoing role in its growth and evolution,” Nina Vaca, chairman and CEO of Pinnacle Group, said in a statement. “We’ve never been more optimistic about Provade’s future as it expands its legacy of product innovation and stellar service with a new cloud structure and vision.”