Goldleaf buys Alogent

Tennessee-based Goldleaf Financial Solutions has acquired Alogent Corporation, a provider of deposit automation technology to financial institutions, for a total consideration of $42.5 million.

  0 Be the first to comment

Goldleaf buys Alogent

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Goldleaf says the purchases price consists of $32.9 million in cash, a $7 million convertible note at $4.50 per share and $2.6 million in common stock.

Founded in 1995, Atlanta-based Alogent sells technology that helps banks convert from paper-based to electronic payment processing.The firm's clients include HSBC, JPMorgan Chase, KeyBank and SunTrust.

Goldleaf, which provides Internet services to US community banks, says the deal will strengthen its position in converging payments and creates cross-selling opportunities.

Alogent will become a business unit of Goldleaf and some members of the management team will stay with the company.

Sponsored New Report – The Future of AI in Financial Services 2025

Comments: (0)

New Event Report – Natural Capital FinanceFinextra PromotedNew Event Report – Natural Capital Finance