ATLANTA, Feb. 1, 2005 (PRIMEZONE) -- Harland Financial Solutions has unveiled plans to expand its outsourcing services with today's announcement that it has signed a definitive agreement to acquire Cincinnati-based Intrieve, Incorporated. Harland Financial Solutions, Inc., a wholly owned subsidiary of John H. Harland Company (NYSE:JH), expects the acquisition to close within 60 days, subject to approval by Intrieve's shareholders.
Intrieve is a leading provider of technology for financial institutions, serving more than 800 clients. The acquisition includes service bureau operations that deliver core processing for more than 150 thrifts and community banks, comprehensive item processing, and electronic banking and payments processing. In-house solutions include software for financial accounting and software that allows financial institutions to print their own laser checks and other MICR documents. Also included in the transaction is a datacenter operation providing co-location, hosting, managed data services and hot-site backup.
Harland Financial Solutions currently delivers in-house and outsourced core processing technology to more than 1,100 banks, thrifts and credit unions. More than 5,000 other clients are served by the company's leading branch automation, lending, mortgage, customer relationship management, item processing, electronic document management and business intelligence solutions.
"The acquisition of Intrieve will represent an important expansion of our existing outsourced product and service offerings," said John O'Malley, president of Harland Financial Solutions. "Intrieve's sophisticated core processing data-center, full service item processing facility and electronic banking and payment processing service will support our strategy of offering our clients the most integrated end-to-end solution available anywhere in the financial industry."
"We are very pleased that our Intrieve clients, along with the talented employees that support them, will become part of Harland Financial Solutions, an acknowledged market leader in the financial technology space," said Intrieve president and chief executive officer, John "Jack" Kuntz.
About Intrieve
Intrieve, Incorporated provides proven, fully integrated technology solutions to financial institutions in an outsourced environment. Backed by a quarter century of experience, Intrieve possesses the knowledge and expertise to help banks successfully manage their information technology operations across the entire enterprise, empowering bank executives to focus on their customers. As a one-stop solution provider, Intrieve offers customized technology solutions for financial institutions seeking the full suite of core banking applications, as well as a comprehensive array of ancillary banking products and services.
About Harland Financial Solutions
Harland Financial Solutions (www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. Harland Financial Solutions is a leader in deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, check imaging, item processing, document management, customer relationship management, and compliance training software.
About Harland
Atlanta-based John H. Harland Company (NYSE:JH) (www.harland.net) is listed on the New York Stock Exchange under the symbol "JH." Harland is a leading provider of software and printed products to the financial institution market. Harland's software solutions include, deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, and customer relationship management systems. Harland's printed products offerings include checks, direct marketing and financial forms. Scantron Corporation (www.scantron.com), a wholly owned subsidiary, is a leading provider of both paper and electronic-based services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.
This press release contains statements, which may constitute "forward-looking statements." These statements include statements regarding the intent, belief or current expectations of John H. Harland Company and members of its respective management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Reference is made to the Risk Factors and Cautionary Statements in Harland's Form 10-K and Form 10-Q filed under the Securities Exchange Act.