Bank software maker Broadway & Seymour of Charlotte, N.C., said it has signed a letter of intent to buy Elite Data Processing Inc., of Los Angeles, which makes financial software for law firms.

If the deal is completed, Elite will become part of Broadway & Seymour's Corbel & Co. unit, which makes software for lawyers, accountants, and pension consultants.

"We've been searching for logical acquisitions which can take advantage of and leverage Corbel's management team and other strengths," said Broadway & Seymour chairman William W. Neal.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.