The core processing provider Jack Henry & Associates Inc. has bought US Banking Alliance, an Atlanta consulting and software company that focuses on community banks.
The Monett, Mo., vendor announced the deal last Monday but did not state the price.
Jack Henry said the purchase would help it diversify its product line. The company has long focused on marketing its core processing services and sold ancillary products only to processing customers, but it said in August 2005 that it had begun offering noncore services to other financial companies.
Jack Henry said that US Banking Alliance's products and services would be sold to the company's core processing customers, as well as to noncore customers through the ProfitStars division that Jack Henry created in February to market to them.
The purchase will "support our focused diversification strategy," said Jack Prim, Jack Henry's chief executive, in a press release.
