Broadway & Seymour Inc., a provider of customer relationship management software to financial institutions, said it has agreed to sell this business to Science Applications International Corp. of San Diego.
In the transaction, which is expected to close in 30 to 45 days, SAIC would take control of the TouchPoint, Crisp, and BancStar products. It said it will maintain Broadway & Seymour's name and headquarters operation in Charlotte.
Other Broadway & Seymour operations are to relocate to Los Angeles as Elite Information Group Inc., focused on financial and practice management systems for legal and other professional firms. Broadway & Seymour chairman and chief executive officer Alan C. Stanford is to resign.
Broadway & Seymour said terms of the sale will be disclosed upon closing. It estimated its cash balance at that time would be $21 million to $22 million, or $2.55 to $2.70 a share.