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M&A News: Jack Henry buys Goldleaf
Financial sector software house Jack Henry & Associates, Inc. has agreed to buy Goldleaf Financial Solutions, Inc. which operates in the same sector.
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The price, USD0.98 per share is a 40% premium on Goldleaf's recent price, says JHA. It will also absorb about USD42 million in debt.
According to a JHA statement "Jack Henry's technology solutions serve more than 8,800 customers nationwide and Goldleaf provides its strategic suite of integrated technology and payment solutions to more than 3,500 financial institutions worldwide. The companies have complementary business models and share many mutual customers with a dedication to providing innovative, quality technology and services."
The combined customer bases include "mega-banks to credit unions."
Although JHA's board have approved the purchase, it remains subject to Goldleaf's shareholders approvals.
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