Harland to acquire Intrieve

Source: Harland Financial Solutions

Harland Financial Solutions has unveiled plans to expand its outsourcing services with today's announcement that it has signed a definitive agreement to acquire Cincinnati-based Intrieve, Incorporated.

Harland Financial Solutions, Inc., a wholly owned subsidiary of John H. Harland Company, expects the acquisition to close within 60 days, subject to approval by Intrieve's shareholders.

Intrieve is a leading provider of technology for financial institutions, serving more than 800 clients. The acquisition includes service bureau operations that deliver core processing for more than 150 thrifts and community banks, comprehensive item processing, and electronic banking and payments processing. In-house solutions include software for financial accounting and software that allows financial institutions to print their own laser checks and other MICR documents. Also included in the transaction is a datacenter operation providing co-location, hosting, managed data services and hot-site backup.

Harland Financial Solutions currently delivers in-house and outsourced core processing technology to more than 1,100 banks, thrifts and credit unions. More than 5,000 other clients are served by the company's leading branch automation, lending, mortgage, customer relationship management, item processing, electronic document management and business intelligence solutions.

"The acquisition of Intrieve will represent an important expansion of our existing outsourced product and service offerings," said John O'Malley, president of Harland Financial Solutions. "Intrieve's sophisticated core processing data-center, full service item processing facility and electronic banking and payment processing service will support our strategy of offering our clients the most integrated end-to-end solution available anywhere in the financial industry."

"We are very pleased that our Intrieve clients, along with the talented employees that support them, will become part of Harland Financial Solutions, an acknowledged market leader in the financial technology space," said Intrieve president and chief executive officer, John Kuntz.

Comments: (0)