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Jack Henry acquires Gladiator Technology Services

10 July 2007  |  1549 views  |  0 Source: Jack Henry & Associates

Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced its acquisition of Gladiator Technology Services, Inc.

This Atlanta, Georgia-based company is a leading provider of technology security services that enable financial institutions to proactively safeguard their information and transaction processing infrastructures, and to comply with the related regulatory standards mandated by the federal government. Terms of the transaction, which closed July 1, 2007, were not disclosed.

The enterprise-wide monitoring services provided by Gladiator Technology Services exclusively for financial institutions include network intrusion prevention, firewalls, server intrusion prevention and event logging, risk assessments, compliance and regulatory solutions, and e-mail filtering and encryption services. These proven security services are currently supporting more than 500 banks and credit unions nationwide, including numerous existing Jack Henry clients.

According to Danny Johnston, president and CEO of Gladiator Technology Services, Inc., "Maintaining Internet and network security solutions that enable financial institutions to deter recognized security threats and proactively respond to emerging threats is an industry-wide challenge. Our suite of security monitoring solutions and related consulting services, which we continually enhance as regulatory requirements and technology evolve, provides our clients with the foundation for effective security infrastructures. We believe that our highly specialized solutions for monitoring and protecting computer systems and customer information in accordance with FFIEC regulations, our in-depth knowledge of current regulatory requirements and future expectations, and our day-to-day experience protecting more than 500 diverse financial institutions positions Gladiator Technology Services as a competitively distinct source for security solutions that enable financial institutions to better manage and protect their mission-critical IT systems."

Jack Prim, CEO of Jack Henry & Associates, reported, "Gladiator Technology Services provides the technology security services we have exclusively re-marketed to our core clients. This long-standing and successful relationship, the quality of its services, and the tangible value these risk mitigation and compliance solutions have with our shared clients made this a logical acquisition and natural expansion of our proprietary product offering. We will continue to cross-sell these Internet and network security services to our core bank and credit union clients, and can now market them to virtually any financial institution, regardless of asset size, charter, and core processing platform, through our ProfitStars division. This acquisition ideally supports our strategy to acquire companies that expand our suite of complementary solutions sold to our core clients while extending our market reach well beyond our more than 2,400 core clients."

"Gladiator Technology Services marks our 16th focused diversification acquisition. Considering that security is a top-of-mind business issue today, we are excited about the sales potential we believe resides in Gladiator's proven solutions for gathering, monitoring, and reporting intrusions and anomalies. We also are excited about the inherent synergies that exist between Gladiator's offering and our Matrix Network Services which encompass fully customized, cost-effective local and wide area network design, implementation, and support services. We expect this acquisition will have a slightly accretive impact on EPS during our fiscal year 2008. I would like to welcome Gladiator's national client base and its associates to the Jack Henry family," concluded Kevin Williams, CFO of Jack Henry & Associates.

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