Jack Henry & Associates Acquires Agiletics, Inc.

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Oct 01, 2018

Jack Henry & Associates Acquires Agiletics, Inc.

- Acquisition further expands offering and competitive position in commercial banking solutions -

MONETT, Mo., Oct. 1, 2018 /PRNewswire/ -- Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today the company announced the acquisition of Agiletics, Inc., a Florida-based provider of proven solutions that help banks better serve commercial customers with sophisticated escrow, investment, and liquidity management solutions. Agiletics joins Jack Henry & Associates as part of Jack Henry Banking® which supports banks, ranging from de novo to multi-billion-dollar institutions, with information and transaction processing solutions.

According to Stacey Zengel, President of Jack Henry Banking, and Vice President of Jack Henry & Associates, "Recognizing that ongoing, low-cost deposit growth is a strategic goal for most banks today, acquiring Agiletics and enhancing our product offering with its proven solutions generates new opportunities for our clients and our company. Agiletics provides an array of solutions that help banks of all sizes gather commercial deposits by better serving their business customers and attracting new ones. And we are particularly excited about the near- and long-term benefits that Agiletics' automated escrow and investment management solutions will deliver."

Agiletics Escrow System processes escrow accounts, including landlord/tenant, attorney/trust, real estate, title company, developer, surrogate, resident care, and more. It supports flexible options for interest accruals and interest sharing between customers and escrow accounts and accommodates state-specific processing requirements.

Agiletics Investment System processes a variety of money market security investments for bank customers and supports automated sweeps between investment and DDA accounts to help manage cash and investment portfolios. It fully automates short-term investing of available sweep balances in multiple repos, fed funds, money marketing savings accounts, commercial paper, master notes, Eurodollars, mortgage-backed securities, and other types of money market securities. Direct online investments are supported with securities accounting and automated collateral management.

Robert Wiseman, Executive Vice President of Agiletics, said, "We are excited to join Jack Henry & Associates, a recognized industry leader that clearly shares our commitment to establishing integrity-based relationships, delivering high quality business and banking solutions, and to supporting each client relationship and each solution with exceptional service. We are ready to formally introduce our solutions to Jack Henry's clients and to demonstrate how they can immediately increase fee income, expand markets and services, and improve the operating efficiency of multiple bank departments and functional roles."

Agiletics was a privately held company. Terms of the transaction were not disclosed.

About Agiletics, Inc.  
Agiletics was founded in 1987 as a specialty banking software firm. Its mission is to provide exceptionally high-quality, comprehensive systems and support for commercial banks. Agiletics extensive experience in software design delivers robust functionality with high efficiency and portability. Additional information is available at www.agiletics.com.

About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its solutions serve more than 9,000 customers nationwide and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information.  Actual results may differ materially from those projected in any forward-looking information.  Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information.  Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements.  Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.

 

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SOURCE Jack Henry & Associates, Inc.

Company: Jack Henry & Associates, Inc., 663 Highway 60, P.O. Box 807, Monett, MO 65708; Analyst Contact: Kevin D. Williams, Chief Financial Officer, (417) 235-6652; Press Contact: Heather Sugg, Public Relations Representative, (954) 854-6203