The Monett, Mo., core banking and outsourcing provider Jack Henry & Associates Inc. has purchased AudioTel Corp. of Addison, Tex.
Jack Henry said Tuesday that AudioTel, which offers check and document imaging software, document management capabilities, telephone and online banking applications, and lockbox and remittance products, has been incorporated into its ProfitStars division. The division was formed in February of last year to offer complementary products to Jack Henry's core processing clients and to financial companies that do not use its core banking software applications.
The acquisition, Jack Henry's 17th since it began a diversification effort in 2004, is expected to be slightly accretive to its earnings this fiscal year, which started in July.
Jack Henry said it hopes to combine AudioTel's lockbox and remittance products with its enterprise payments products, and to combine its check imaging software with AudioTel's branch capture offerings.
The AudioTel acquisition "supports our strategy to acquire companies that provide additional complementary solutions we can cross-sell," Jack Prim, Jack Henry's chief executive, said in a press release.
