Compushare, Inc., a national Financial Technology Management company for community financial institutions, has acquired Garrison Security Services, Inc., a provider of technical support services to U.S.-based credit unions.
Austin, Texas-based Garrison Security Services serves hundreds of credit unions nationwide. The acquisition increases Compushare's market share in the national credit union space significantly and enables these credit unions to take advantage of the company's expertise in other critical IT business concern areas related to strategy, safety, soundness and support.
"We chose Compushare because of their excellent reputation, deep resources and strong position in the community financial institution marketplace," said Kelly Dowell, president of Garrison Security Services. "We have always wanted to provide compliance, security, vulnerability management and strategic consulting services to credit union clients, and now we can with Compushare's great team and unique business methodology. I foresee our clients, and the Credit Union market as a whole, strongly embracing Compushare when they fully understand the value of this merger to their institutions."
This acquisition marks the second major market consolidation action taken by Compushare in as many years. In 2005 Compushare merged with Pifer Technology Services of Barrington, New Jersey increasing their already growing client list beyond five hundred community banks and expanding Compushare's market footprint into the Northeast and Mid-Atlantic regions of the United States.
"Compushare is extremely pleased to expand our presence in the Credit Union marketplace. Garrison has an excellent reputation with their clients and we intend to exceed their expectations," said Romir Bosu, president and CEO of Compushare. "Credit unions will benefit from our IT and compliance expertise and exclusive focus on their needs."