« Promotions and New Hires in the Payments Industry | Main | Capturing the Blog Buzz about Prosper »

Financial Mergers and Acquisitions

By Jim Bruene on March 4, 2006 7:39 PM | Comments (0)

Who bought what this week.

Cash Systems Inc. says it paid $12 million in cash and stock to buy Indian Gaming Services (IGS) from its parent, Borrego Springs Bank, N.A. IGS is a San Diego-based ATM company operating in casinos; the bank is owned by the Viejas (Baron Long) Group of the Capitan Grande Band of Diegueño Mission Indians. IGS developed the eCash System, an Internet-based, all cash-access service that includes a proprietary check-cashing application. (Contact: Cash Systems Inc., 203-682-8200)

Diebold Inc. is buying Genpass Service Solutions LLC from US Bank for an undisclosed sum. The deal gives Diebold service-contracts on 6,000 ATMs in 34 states. Diebold also renewed its maintenance contract with the bank for five years; Diebold services more than 7,100 ATMs for U.S. Bank. U.S. Bank bought Genpass’ parent, Genpass Inc., in May 2005. (Contact: Diebold Inc., 330-490-6319)

Oxford Investments Holdings Inc. says it signed a letter of intent to buy WebStar Internet Solutions, an online payment platform geared for online casinos. Oxford, based in Toronto, Canada, is an Internet gaming-software licensing, reseller, and development company. Terms of the transaction were not disclosed. (Contact: Oxford Investments Holdings Inc., 800- 293-4871)

Trintech Group PLC is buying Assurity Technologies Inc. for $2 million down and a performance-based earn-out over three years of as much as $3 million, for a potential total of $5 million. Trintech says the deal should be additive to earnings in the second half of the fiscal year, excluding amortization of the purchase price. Assurity produces general ledger account reconciliation, review and certification-enterprise process-management software, including a Sarbanes-Oxley-related product called AssureNET. Trintech, based in Dublin, Ireland and Dallas, Texas, produces transaction verification, reconciliation, process management and compliance software. (Contact: Trintech Plc, 972-701-9802)

Comments (0)

Most Recent Posts:

TrackBack

TrackBack URL for this entry:
http://www.netbanker.com/cgi-bin/mt/mt-t.cgi/251

Leave a comment

Sponsors

BackBase IntelliResponse Yodlee FinovateEurope 2012

Events

  • FinovateEurope 2012 -- On February 7th, 2012, the second annual FinovateEurope will feature dozens of Europe's newest fintech innovations via a fast-paced demo-only format in the financial capital of London. 7 minutes each on stage. No slides allowed. Come watch the future of fintech in Europe unfold live! Get your ticket today and lock in your spot before it is too late!
  • FinovateSpring 2012 -- On May 8th & 9th, 2012, Finovate will return to San Francisco for our 5th annual west coast showcase of the newest fintech innovations from Silicon Valley and beyond. Each company gets 7 minutes to demo live. No slides allowed. Come watch the future of fintech debut! Get your ticket today and save big!

Research

  • NEW! Online & Mobile Banking Forecast: Current, future and historical usage: 1994 to 2021 - Find out more
  • NEW! Selling Insurance Online (Banking Edition): Can insurance help fill the fee-income gap? - Find out more
  • NEW! True Virtual Banking Has Arrived: BankSimple, Personal Capital, Betterment and others go branchless, paperless and “bank-less” - Find out more
  • 2012 Guide to Online & Mobile Banking Products, Pricing & Strategy: Preparing for a mobile-first world - Find out more
  • Family Banking: Tweens, Teens & their Parents: In a remote banking world, your most-promising prospects aren’t even driving yet! - Find out more

 

   

RSS Subscribe via RSS
RSS Subscribe to Comments



Email:


@NetBanker Twitter Feed



See all @NetBanker tweets