News

Jack Henry acquires Profitstar

November 10, 2005

MONETT, Mo. - Jack Henry & Associates Inc., an ATM, debit card and ACH transaction processor, has acquired Profitstar Inc., according to a news release. Terms of the transaction were not disclosed.

The Omaha, Neb.-based company provides asset/liability management, profitability management and budget and reporting solutions. It also has a relationship with more than 2,000 banks and credit unions.

"Profitstar is the latest in a series of acquisitions that support Jack Henry's focused diversification strategy," said Jack Prim, Jack Henry's chief executive. "Prior to 2004, we primarily acquired companies that provided complementary products and services that could be integrated with our core information processing platforms, and sold almost exclusively to our existing clients. Since the beginning of 2004, we have been acquiring companies that provide highly specialized solutions that can be sold to virtually any financial services organization, regardless of asset-size, charter or core-processing solution."