Thursday September 2, 7:00 am Eastern Time
Company Press Release
SOURCE: Concentrex, Inc.
Concentrex Incorporated Forms New Division for Host Services
PORTLAND, Ore., Sept. 2 /PRNewswire/ -- Concentrex Incorporated (Nasdaq: CCTX - news) today announced the creation of the company's Host Services Division. Based in Pleasanton, Calif. in the former offices of ULTRADATA Corporation, the 215-employee division will manage the development, delivery, and customer service for Concentrex's host processing products and services.
Concentrex, formerly CFI ProServices, Inc., a leading provider of integrated, PC-based software to financial institutions, Aug. 13 acquired ULTRADATA, a leader in providing information management solutions to financial institutions nationwide. The company is now at work combining the two operations.
The product, services, customer relationship and sales functions originally part of ULTRADATA will remain in place. The Host Services Division will also handle work on the host processing products and services associated with Modern Computer Systems, Inc. (MCS), the Burnsville, Minn. company that Concentrex acquired in January 1999. The division will report to Lois Roberts, Concentrex Senior Vice President of Sales, Marketing and Customer Services.
``The key assets we acquired in Pleasanton are the people and their expertise in providing information management solutions. The new management team in place at ULTRADATA has over 55 years of cumulative experience with ULTRADATA. The team is headed by newly- appointed Vice President of Sales and Operations, Jim Berthelsen, overseeing the division and Cindy Cooper, overseeing products,' said Roberts. ``We will continue to serve our existing customers with the high level of attention they have come to expect. We are at work integrating the highly successful applications CFI developed with the host offerings we now have to serve credit unions of all sizes. At the same time, we are at work bringing the real-time host processing capability credit unions enjoy to the community bank market using the technology developed in Pleasanton and Burnsville.'
Concentrex now has more than 700 host processing customers. Revenues for host processing services amount to approximately $35 million on an annualized basis.
Corporate functions such as accounting, human resource, travel management, information systems and marketing departments are merging into their related departments at Concentrex's Portland headquarters. Staffing in these departments is not expected to change and employees have already begun to work with their counterparts to begin this transition.
Concentrex Incorporated, based in Portland, Oregon, is a leading provider of technology-powered solutions to deliver financial services including solutions for real-time host processing and accounting, branch automation, loan origination, new account opening, call center management, cross selling of products and electronic commerce. Concentrex serves over 5,000 financial institutions of all types and sizes in the United States. Concentrex has major offices in 11 additional cities across the country. Its World Wide Web address is www.concentrex.com.
This release contains forward-looking information and estimates of performance that involve risk and uncertainty. Concentrex's product offerings are subject to change, cancellation and performance. For additional information, please refer to the Company's Securities and Exchange Commission reports filed under the Securities Exchange Act.
SOURCE: Concentrex, Inc.
biz.yahoo.com |
