Tuesday January 19, 4:16 pm Eastern Time
Company Press Release
Carreker-Antinori to Acquire Genisys Operation, Inc
Synergistic to Payment Systems Capabilities
DALLAS--(BUSINESS WIRE)--Jan. 19, 1999--Carreker-Antinori, Inc., (Nasdaq: CANI - news), a leading provider of consulting and software solutions to financial institutions announced that it has agreed in principle to acquire Genisys Operation, Inc. (Genisys), a leading provider of track and trace software solutions to financial institutions.
This acquisition will enable Carreker-Antinori to provide solutions which will help financial institutions reduce costs and increase productivity in their check, ATM, cash, loan, and corporate mail operations through the use of barcode workflow and tracking technology, and information management software.
The acquisition will be accounted for as a pooling of interests and calls for shareholders of Genisys to receive 1.24 million shares of Carreker-Antinori common stock and is expected to be completed within the next two weeks subject to the completion of due diligence, and the verification of the accretive nature of the transaction. Genisys' unaudited revenue for their fiscal year ended October 31, 1998, was $2.5million.
''This acquisition will synergistically add to our payment systems solutions suite,'' said J.D. ''Denny'' Carreker, chairman and chief executive officer of Carreker-Antinori. ''Strategically, this acquisition helps Carreker-Antinori expand the functional areas of banking that we serve, and improves the value of our liquidity, risk, float management, consolidations and best practices core competencies. For our customers, the key benefits are cost-reductions, staff efficiencies, and speeding the banks' ability to transfer information that is vital to their business,'' said Mr. Carreker.
Kevin Taylor, President of Genisys Operation commented, ''Both Carreker-Antinori and Genisys maintain a strong customer focus. Joining Carreker-Antinori will allow us to combine our software with Carreker-Antinori's consulting expertise to offer a complete solution to the banking industry. Moreover, Genisys has traditionally worked with clients through a single functional unit, whereas Carreker-Antinori is engaged across multiple functional units, allowing them to serve as a broad-based strategic advisor and solutions provider. Now our sales forces, armed with an expanded suite of products and offerings, can work together in approaching organizations across several functional units, as we pursue both new and cross-selling business opportunities.''
Only last Thursday, Genisys announced the availability of an Internet add-on component to their existing Receive Sentry tracking system, ReceiveSentry.com, which enables financial institutions to collect and query tracking information via the corporate Intranet or the global Internet. ''We are excited about these emerging Internet capabilities of Genisys and we expect to leverage them to Internet-enable our other capabilities where appropriate,'' Mr. Carreker said.
Carreker-Antinori, Inc. is a leading provider of integrated consulting and software solutions that enable financial institutions to increase their revenues, reduce their costs and enhance their delivery of customer services. The Company's customers include approximately three-fourths of the largest 100 bank holding companies in the United States. For more information about Carreker-Antinori, please visit our web site at www.carreker-antinori.com.
Forward-Looking Statements. This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based upon current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described herein. The forward looking statements set forth in this press release are also subject to the public filings with the Securities and Exchange Commission by Carreker-Antinori, including those discussed under ''Risk Factors'' in Carreker-Antinori's Prospectus dated May 20, 1998.
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Contact:
Carreker-Antinori, Inc., Dallas
Sissy Toney
Investor Relations / Corporate Communications
(972) 371-1472 PH
(972) 661-9301 FX
Email: stoney@carreker.com
or
Makovsky & Company, New York
Michael Lendener, Ass't.Vice Pres.(IR) Manager
Jackson Ferry, Acc't Supervisor (PR)
(212) 508-9600 PH
(212) 751-9710 FX
Email: mlendener@makovsky.com
Email: jackson@makovsky.com
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