AUSTIN, Texas – Teres Solutions, which provides indirect lending systems to more than 175 credit unions, yesterday announced it has agreed to be acquired by CRIF, an Italian provider of credit systems that plans to sell the company’s SAIL solution in Europe.
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CRIF plans to market Teres’ SAIL Direct and SAIL Indirect lending platforms to organizations in Europe and elsewhere. The company said the deal will support the continued expansion of CRIF into the U.S. credit union and financial services markets.
As part of the agreement, Teres Solutions will operate as a wholly-owned subsidiary of CRIF.
Financial terms of the deal were not disclosed.
