Over 180 Technology M&A Transactions since 1998
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Charlotte, NC; September 1, 2011 — DecisionPoint, a leader in M&A advisory services for middle-market technology companies, announced today that its client Computer Services, Inc. (OTCQX: CSVI, “CSI”), a leading provider of services and IT solutions for financial institutions, has acquired HEIT, a Colorado-based provider of cloud-based managed compliance, security and IT services. Terms of the transaction were not disclosed although this is the largest acquisition that CSI has ever made.
The acquisition of HEIT, which operates two secured data centers, located in Fort Collins, Colo. and Austin, Texas, that are staffed around the clock with technical experts to ensure mission-critical resources function efficiently, would make CSI one of the largest cloud and managed service providers for financial institutions nationwide.
“CSI has a strategic initiative to grow through acquisitions, and is always looking for opportunities to enrich the services that they provide to their trusted clients. Adding exciting companies like HEIT that bring a synergistic solution, long-term client relationships, and a valued management team is a key part of their long term strategy,” said Tom Wilson, Managing Partner at DecisionPoint.
“Financial institutions today are under more regulatory pressure and security threats than ever before,” said Steve Powless, CSI’s CEO. “We remain dedicated to ensuring that our customers have the highest levels of compliance and security in place. The addition of HEIT to the CSI family will provide our existing customers with expanded services, enhancing their competitiveness with more secure and efficient technology and operations. This is a result of our strategy to broaden and diversify from coast to coast, as we look to the future, we see a big growth market in the industry in managed services.’
Cloud-based managed services enable financial institutions to access on-demand technology and IT services without the requirement to purchase, build, and integrate expensive data centers, networks and servers. Financial institutions gain access to an entire team of experts, 24-hour coverage of their technology’s security and compliance without adding extra staff or sacrificing customer service.
“We look forward to joining the CSI family,” said Dan Holt, HEIT’s CEO. After the closing, Holt will become general manager of CSI’s Managed Services Division. “CSI, like HEIT, is dedicated to providing innovative solutions to financial institutions that are backed by a team of industry experts. This is a tremendous opportunity to further invest, innovate and expand our national presence as a managed services provider, while also gaining the ability to offer many new services to our customers.”
About CSI
Computer Services, Inc. (CSI) delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, regulatory compliance and document delivery solutions to financial institutions and corporate entities across the nation. Technology planning, personal account management and world-class customer service explain why CSI is known as one of the nation’s premier providers of technology solutions for the financial services industry. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information, visit www.csiweb.com.
About HEIT
HEIT provides cloud-delivered IT performance, compliance and security managed services to help financial institutions improve profitability and efficiency, reduce risk, and mitigate security threats in the face of market contraction, margin compression and increasingly complex regulatory environments. HEIT’s PCS-4 Platform delivers flexible, affordable service levels, handling technology management so financial institutions can focus on core business initiatives. For more information, visit www.goheit.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: Tom Wilson, Managing Partner; (704) 248-1124; twilson@decisionpointint.com.