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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 20, 2004
JACK HENRY & ASSOCIATES, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-14112 43-1128385
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
663 Highway 60, P.O. Box 807, Monett, MO 65708
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(Address of principal executive offices)(zip code)
Registrant's telephone number, including area code: (417) 235-6652
Item 8.01 Other Events.
On December 20, 2004, Jack Henry & Associates, Inc. ("Jack Henry")
issued a press release (a copy of which is attached to this report)
announcing the acquisition of TWS Systems, Inc.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
99.1 Press release dated December 20, 2004.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
JACK HENRY & ASSOCIATES, INC.
(Registrant)
Date: December 20, 2004 By: /s/ Kevin D. Williams
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Kevin D. Williams
Chief Financial Officer
Exhibit 99.1
Company: Jack Henry & Associates, Inc. Analyst Contact: Kevin D. Williams
663 Highway 60, P.O. Box 807 Chief Financial Officer
Monett, MO 65708 (417) 235-6652
IR Contact: Jon Seegert
Director Investor Relations
(417) 235-6652
FOR IMMEDIATE RELEASE
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JACK HENRY & ASSOCIATES ANNOUNCES THE ACQUISITION OF TWS SYSTEMS, INC.
Monett, MO - December 20, 2004 - Jack Henry & Associates, Inc. (Nasdaq:
JKHY), a leading provider of integrated computer systems and ATM/debit
card/ACH transaction processing, today announced its purchase of TWS
Systems, Inc. The Florida-based company is the leading provider of image-
based item processing solutions for credit unions, and the leading provider
of ATM deposit processing solutions for banks and credit unions. Terms of
the transaction were not disclosed.
IMAGECENTER, TWS' turnkey image-based item processing platform that was
designed to support the unique requirements of credit unions, has dominated
the industry for more than 16 years and has been implemented by a
significant majority of the credit unions that have migrated to check
imaging. The company has sold more image-based item processing systems than
all competitive alternatives combined, and more than 50 of the largest 100
credit unions in the U.S. have implemented the platform. The system, which
is available for in-house installation or through strategically located item
processing centers, supports all forms of checks; counter, ATM, and mailed
deposits; and all forms of remittance payments.
"This acquisition provides the opportunity to integrate the core
competencies of two industry leaders," said Jack F. Prim, CEO of JKHY.
"Integrating Episys[R], the core processing solution offered by Jack Henry's
Symitar subsidiary and used by more credit unions with assets exceeding $25
million than any other system, with IMAGECENTER, the dominant image-enabled
item processing solution, will provide a competitively distinct enterprise-
wide solution, will generate growth opportunities for both platforms,
and will support our collective clients with a value-added solution."
Approximately 30 credits unions are currently using Episys and IMAGECENTER.
TWS Systems also leveraged IMAGECENTER to provide a first-of-its-kind
solution that automates the historically time-consuming, error-prone manual
processing of ATM deposits. This innovative system is now the market-
leading solution with a growing client base that includes 20 of the leading
U.S. and Canadian banks that have automated ATM deposit processing. This
industry-leading, Internet-enabled system supports both cash and check
deposits, envelope and image-based ATM deposits, and daily volumes ranging
from 500 to 200,000 deposits. The system's end-to-end functionality
includes image capture and processing at the ATM, courier tracking and
monitoring, fraud detection and prevention, automated balancing, a
comprehensive audit trail, and more.
According to Tony L. Wormington, president of JKHY, "This acquisition
expands our product and service offering with IMAGECENTER, generates
inherent cross-sale opportunities, and provides the opportunity to introduce
Jack Henry's growing suite of solutions for the mid-tier bank market by
leveraging TWS' successful client relationships with some of the nation's
leading banks. Acquiring TWS Systems clearly supports our objectives to
continually add larger financial institutions to our client roster, to
further differentiate and broaden our integrated solutions, and to add value
for our clients."
"In addition to the cross-sales and new sales opportunities the IMAGECENTER
platform generates, we believe acquiring TWS Systems can generate new
market opportunities by adapting its industry-leading solution to support
remittance check and cash payment processing for credit card and mortgage
companies, government entities that collect taxes, and utilities. We also
expect this acquisition to have a slightly accretive impact on EPS,"
concluded Kevin D. Williams, CFO of JKHY.
About TWS Systems, Inc.
Clearwater, Florida-based TWS Systems, Inc. is the leading provider of
image-based item processing solutions for credit unions, and the leading
provider of ATM deposit processing solutions for credit unions and banks.
Additional information about TWS Systems, Inc. is available by calling 800-
247-1342 or visiting www.twssystems.com.
About Jack Henry & Associates
Jack Henry & Associates, Inc. is a leading provider of integrated computer
systems and processor of ATM/debit card/ACH transactions for banks and
credit unions. Jack Henry markets and supports its systems throughout the
United States, and has approximately 5,900 customers nationwide. For
additional information on Jack Henry, visit the company's Web site 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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