Open Solutions Buys CGI's Group'sAmerican Operations
GLASTONBURY, Ct. - (03/11/05) -- Open Solutions Inc. said itcontinued its acquisition streak and has agreed to buy the U.S.operations of Montreal-based CGI Group Inc. The assets include thecompany's U.S. Services to Credit unions, which provides coreprocessing for 180 credit unions in the U.S, as well as loanorigination and web hosting services. The acquisition price was $24million (U.S.) in cash. U.S. Services to Credit Unions will becomepart of OSI's Core Systems Group and continue to be located inSouthfield, Mich. OSI has made about five other acquisitions overthe past year, including re: Member Data Services, Omega Systems,Maxxar, Datawest and EastPoint Technologies.