- Acquisition Expands Back-Office and Retail Banking Solutions, and Adds
More Than 1,000 Financial Institutions to Client Roster -
MONETT, Mo., Oct. 2 /PRNewswire-FirstCall/ -- ProfitStars (a division
of Jack Henry & Associates, Inc. Nasdaq: JKHY) which provides highly
specialized products and services that enable financial institutions to
mitigate risks, optimize revenue, and contain costs, today announced the
acquisition of Texas-based AudioTel Corporation. AudioTel supports more
than 1,000 financial institutions with back-office and retail banking
solutions. Terms of the transaction were not disclosed.
AudioTel provides proven remittance, merchant capture, check imaging,
document imaging and management, and telephone and Internet banking
solutions. The company has continually expanded its product offering and
market presence since it was founded in 1993, and its specialized software
and hardware solutions have consistently been on the forefront of the
payment processing industry.
Jack Prim, CEO of Jack Henry & Associates, reported, "Our acquisition
of AudioTel supports our strategy to acquire companies that provide
additional complementary solutions we can cross sell to our core financial
institution clients, that generate new cross-sale opportunities among our
respective client bases, and that expand the specialized products and
services our ProfitStars(TM) division sells to virtually any financial
services organization regardless of core processing platform. We have
identified synergies among our respective product lines, and we are
particularly excited about the opportunity to enhance our enterprise
payments offering with AudioTel's thick/client remittance processing and
lockbox solution, and to advance our 4|sight(TM) Check Imaging platform
with AudioTel's branch capture solution."
According to Scott Doores, President of AudioTel Corporation, "We
believe joining ProfitStars and Jack Henry is in the best interest of our
clients, our employees, and the future of our products and services. We
expect access to ProfitStars' significant resources and technology tools
will expedite our speed-to-market with ongoing functional enhancements. The
opportunity to leverage its extensive support infrastructure will enable us
to continually enhance our customer service initiatives. Joining Jack Henry
will provide the stability only available as part of a public, financially
sound company. And we are excited about our common corporate cultures,
which are fundamentally focused on establishing long-term customer
relationships by delivering quality products and outstanding service."
"AudioTel marks Jack Henry & Associates' 17th acquisition made to
support our focused diversification strategy, which we adopted in 2004. We
are especially excited about acquiring this company since it adds more
products and services to our ProfitStars brand than any other focused
diversification acquisition made to-date. In addition to enhancing
ProfitStars' market presence and potential, we expect this acquisition will
have a slightly accretive impact on EPS for the remainder of our fiscal
year 2008," concluded Kevin Williams, CFO of Jack Henry & Associates.
About AudioTel Corporation
AudioTel Corporation specializes in software for financial
institutions, offering a wide range of products and services to address the
challenges they face. AudioTel offers integrated solutions for item
processing, imaging, remittance, document management, Internet banking,
telephone banking, and Website design and hosting. AudioTel is based in
Addison, Texas, 20 miles north of downtown Dallas. Founded in 1993,
AudioTel's customer base has grown to more than 1,000 financial
institutions across the country. For more information about AudioTel, visit
their Website at http://www.audiotel.com.
About Jack Henry & Associates, Inc.(R)
Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of
computer systems and ATM/debit card/ACH transaction processing services
primarily for financial services organizations. Its technology solutions,
which are now serving more than 8,700 customers nationwide, are marketed
and supported through three primary brands. Jack Henry Banking supports
banks ranging from de novo to mid-tier institutions with information and
transaction processing solutions. Symitar(TM) is the leading provider of
information and transaction processing solutions for credit unions of all
sizes. ProfitStars(TM) provides highly specialized products and services
that enable financial institutions of every asset size and charter, and
diverse corporate entities to mitigate and control risks, optimize revenue
and growth opportunities, and contain costs. Additional information is
available at http://www.jackhenry.com.
Statements made in this news release that are not historical facts are
forward-looking information. Actual results may differ materially from
those projected in any forward-looking information. Specifically, there are
a number of important factors that could cause actual results to differ
materially from those anticipated by any forward-looking information.
Additional information on these and other factors, which could affect the
Company's financial results, are included in its Securities and Exchange
Commission (SEC) filings on Form 10-K, and potential investors should
review these statements. Finally, there may be other factors not mentioned
above or included in the Company's SEC filings that may cause actual
results to differ materially from any forward-looking information.
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