Talaris, a provider of cash management solutions, has announced that it acquired LutzWolf Systems, a Frankfurt, Germany-based independent software development, support and consulting company that provides multi-vendor connectivity solutions to the banking and retail industries.
LutzWolf will continue to operate as an independent software house.
Michael Bielamowicz, EVP of global solutions for Talaris, said the company chose to acquire LutzWolf because it is already well-proven in the marketplace, with more than 10,000 licenses deployed in FIs today.
"Their open-standards-based J/XFS solution, their proven multi-vendor capability and their extensions to devices other than traditional cash handling devices make them the right kind of partner to meet these needs," Bielamowicz said. "Overall, existing products, proven skills and meeting customer needs drove this decision."
Talaris Chief Executive Tim Robinson said he believes the acquisition makes good sense for all of Talaris' stakeholders.
"We are now not only able to consult on operational design and performance management, we are able to back this up with a complete set of tools for post-consultation execution by the customer," Robinson said.
Mal McHutchison, Talaris' managing director BTA and group director of marketing, said the relationship with LutzWolf is one in which Talaris we can more freely invest in the growth of because of its demonstrated capabilities.
"Combined with our other in-house software and hardware development capabilities, we expect to offer many new, practical and profitable solutions to the marketplace in years ahead," McHutchinson said.
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