Open Solutions Adds To AcquisitionsBinge
GLASTONBURY, Ct. - (06/08/05) -- Open Solutions Inc., which hasacquired eight companies or parts of companies over the past 18months, added another with a deal announced Tuesday to buyFinancial Data Solutions, Inc., the image processing arm ofSouthwest Community Bancorp. FDSI provides image and remittanceitem processing, and image statement, and rendering services. Underthe terms of the deal, Open Solutions will pay Southwest CommunityBancorp about $9 million in cash and FDSI will become part of thecompany's Item Processing Systems business group. FDSI providesimage processing from its three processing centers in Murrieta, ElMonte and San Leandro, Calif.