Battery Ventures completes acquistion of Alogent product line from Jack Henry

Source: Battery Ventures

Battery Ventures, a global technology investment firm, announced today that it has successfully completed the acquisition of Goldleaf Enterprise Payments (GEPI), Inc., formerly the wholly-owned subsidiary of Jack Henry & Associates, Inc. (NASDAQ) that included the Alogent product line.

Through the transaction, which was originally announced in April, Battery Ventures has established an independent operating business named Alogent.

As a stand-alone company, Alogent will explore opportunities to bolster its core technology -- software that electronically captures, processes and analyzes check data and images -- both organically and through strategic add-on acquisitions. Alogent will offer its customers -- global, Tier-1 banks -- best-of-breed technologies to capitalize on the growth in mobile banking by consumers and businesses.

As previously announced, Dede Wakefield, formerly the chief financial officer for cloud-based supply-chain company GT Nexus, will become Alogent's chief executive. In addition, Battery General Partner Russell Fleischer and Battery Vice President Jordan Welu will join Alogent's board.

Alogent will join Battery's current portfolio of financial services companies, including: Cortera, Earnest, IDI Direct Insurance, Istra Research, Panjiva, Precidian Investments, PrimeRevenue, Q2eBanking and TechProcess.*

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