Over 180 Technology M&A Transactions since 1998
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Charlotte, NC; April 30, 2003 - DecisionPoint International (“DecisionPoint”), a boutique Investment Bank providing merger and acquisition services to middle-market technology clients, announced today that its client Aurum Technology® Inc., a leading provider of open and integrated technology-based solutions to the financial industry serving many of the financial industry’s highest performing institutions, has successfully completed the acquisition of Utah-based Computer Consultants Corporation (CCCorp). A privately held company, CCCorp is presently the fourth largest provider of Business Process Outsourcing (BPO) solutions to the credit union industry with nearly 600 customers located throughout the United States and Caribbean. Terms of the deal were not disclosed.
Offering both in-house and ASP solution alternatives, CCCorp has served the small- to mid-tier segments of the credit union market for more than 25 years. With its newest product introduced in late 2001, Mercury™, CCCorp delivers the most advanced and flexible Microsoft®-based core processing platform in the credit union space.
Aurum has identified a range of synergies that will result from the acquisition, including an expanded market presence, complementary technology platforms and common market and solutions philosophies. “Today’s announcement represents the successful culmination of more than five months of intensive, professional interaction between our two companies – resulting in the acquisition of not only an advanced, flexible Microsoft-based core processing platform, but also a management team and employee base that clearly demonstrate a thorough understanding of their market and an unlimited passion for customer service,” stated Paul Bourke, chairman, CEO and president of Aurum Technology Inc.
“Aurum’s past focus has been on the mid to upper end of the credit union marketplace. With this acquisition, as they integrate CCCorp’s Mercury™ product into their existing suite of products, Aurum will expand its reach to capitalize on small to mid-tier credit union opportunities,” said John Nash, Executive Managing Director of DecisionPoint International.
About Aurum Technology Inc.
Aurum Technology is a leading provider of open and integrated information technology-based solutions to the financial services industry, with capabilities ranging from Core Solutions to eBanking to Check Imaging to Business Intelligence. Using its more than 30 years of experience and proven suite of products and services, Aurum provides Community Banks, Credit Unions and Savings Institutions with the means to increase efficiencies, grow market share and enhance profitability. Aurum Technology serves more than 1,200 customers throughout North America, including many of the financial industry’s highest performing institutions. More information is available at www.AurumTechnology.com.
About Computer Consultants Corporation
Computer Consultants Corp. celebrated 25 years of operation in February 2002. A privately-held software company located in Salt Lake City, CCCorp began supplying integrated solutions to credit unions exclusively in 1982. Since then, over 1,000 credit unions worldwide have been licensed to use one or more of the company’s information system products. CCCorp is one of the top ten vendors of credit union information software in the United States according to NCUA records. More information about CCCorp is available at www.CCCorp.com.
About DecisionPoint
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Doug Ellis, Managing Partner; (704) 916-9070; DEllis@DecisionPointINT.com.