Open Solutions Inc. Completes Acquisition of Fincentric Corporation
Financial Services Provider Further Expands Global Market Presence
GLASTONBURY, Conn., May 09, 2007 – Open Solutions Inc.®, a leading provider of integrated data processing technologies for banks, credit unions and other financial services providers across the United States, Canada and other international markets, today announced that it has completed its acquisition of Canadian-based Fincentric Corporation, a leading provider of core retail banking and customer value management software to the global financial services industry.
Open Solutions believes this transaction will further enable it to expand its product offerings and market presence in the Canadian and global marketplaces. As previously announced, Fincentric will become part of Open Solutions Canada -- which is headed by its President, Blair Goulet. Fincentric will continue to operate from its location just outside of Vancouver in Richmond, British Columbia.
“We are very pleased to announce the completion of this acquisition and delighted to welcome the employees of Fincentric Corporation and their clients into the Open Solutions family,” said Louis Hernandez, Jr., chairman and CEO of Open Solutions. “We look forward to working closely together to further expand our company’s market presence and reach within the global financial services industry. We intend to leverage each organization’s strengths and experience to develop additional product offerings, new technologies and applications. Together, we are committed to Open Solutions’ ongoing efforts to offer industry-focused proactive solutions designed to enable financial services providers to better compete and provide superior products and services to their customers.”
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, remote capture, interactive voice response, network services, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.
Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2007 Open Solutions Inc. All rights reserved.
Editors Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.
Contact:
Marvin (Mickey) S. Goldwasser
Open Solutions Inc.
860.652.3153
mgoldwasser@opensolutions.com
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