| An SI Board Since May 1999 |
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| 11 |
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CCTX |
| Emcee:
TLindt
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Type:
Unmoderated
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CFI Adds EC, Data Management To System
Portland, Ore.-based CFI ProServices Inc's. [PROI] plans to acquire information management software vendor ULTRADATA Corp. [ULTD] and home banking/e-commerce company MECA Software could give bankers a nice fit for merging front-and back-end systems.
MECA, the company known for financial planning software Managing Your Money, is still struggling to figure out how it will compete in the Internet banking arena, says Octavio Marenzi, research director at Newton, Mass.-based consultancy Meridien Research. CFI may help clear the cob-webs, leveraging its large branch automation installation base to broker Meca's Internet banking wares, he says.
ULTRADATA expands CFI's customer base and uses information management tools to track transaction history in real-time.
The new entity estimates its annualized 1999 sales to be more than $150 million, and will operate under a new name that has yet to be chosen, says Matt Chapman, chairman and CEO of CFI.
library.northernlight.com
CFI ProServices, Inc. and its subsidiaries develops, sells, and services customer service software used by financial institutions. Revenues for the fiscal year ended 12/31/98 increased 18% to $85.6 million. Net income applicable to Common rose 16% to $3.9 million. Revenues reflect increased sales of products in the Laser Pro lending suite. Earnings were partially offset by increased sales and marketing expenditures and a $2.7 million acquired in-process R and D charge.
biz.yahoo.com
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