MONETT, Mo., Feb 22, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing, today announced that it has established its third primary brand -- ProfitStars.
Jack Henry & Associates now encompasses three primary brands. The original brand and corporate namesake provides mid-tier and community banks with enterprise-wide information and transaction processing solutions that are available for in-house and outsourced implementation; Symitar provides credit unions of all sizes with industry-leading information and transaction processing solutions that are also available for in-house and outsourced implementation; and now ProfitStars provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities.
The ProfitStars brand encompasses the products and services provided by the 13 companies Jack Henry acquired through its focused diversification strategy. These highly specialized products and services enable diverse businesses to increase revenue and growth, mitigate and control risk, and control costs. The ProfitStars brand also will encompass select legacy products and services that Jack Henry has historically sold almost exclusively to its core bank and credit union clients. Jack Henry's sales force automation system, check imaging and Check 21 solutions, and disaster preparedness and recovery services are among the solutions that strategically expand the ProfitStars product families and are compatible with any core processing environment.
Establishing the ProfitStars brand is expected to materially increase the brand awareness of its product and service offering, and positively impact the sales of these solutions. While each of the proven products and services enjoys an outstanding reputation among its existing clients, most of them have minimal brand awareness outside their respective client base. Continuing to market and support these solutions under the acquired companies' individual identities also creates fundamental difficulties communicating and demonstrating the depth and breadth of these solution suites.
According to Jack Prim, CEO of Jack Henry & Associates, "The introduction of ProfitStars represents another integral component of our ongoing focused diversification strategy, which has successfully expanded our target markets with products and services that are relevant for literally any domestic and international financial services organization, and diverse corporate entities. We believe establishing this brand will enable us to more effectively and efficiently introduce more of our solutions to our existing and prospective clients; and to the established and emerging markets we are now serving. We also believe the timing of this brand launch is ideal considering the distinct business challenges and objectives these products and services address -- increasing revenue, mitigating and controlling risk, and controlling costs -- are top-of-mind issues for most executives today."
"Jack Henry & Associates is celebrating its 30th year in business during 2006. Throughout the past three decades, we have experienced tremendous growth in the dynamic banking marketplace, and have established a strong brand identity based on our robust products and outstanding service levels. Our Symitar brand enjoys the same reputation for quality products and premier service. We now expect to establish a consistent brand identity with ProfitStars' best-of-breed solutions, which are currently implemented by some of the largest banks, credit unions, and securities firms in the United States; and other well known domestic and international organizations. We are excited to introduce this brand and we are looking forward to its positive impact on the next chapter in our company's history," concluded Mr. Prim.
ProfitStars will be headquartered in Allen, Texas (a Dallas suburb) with David Foss providing executive oversight as general manager of the products and services delivered under the ProfitStars brand, and Steve Tomson will serve as national sales manager.
About ProfitStars
ProfitStars, a division of Jack Henry & Associates, Inc. (Nasdaq: JKHY), is a leading provider of best-of-breed products and services that are designed to improve the operating performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These products and services include proven solutions for revenue and growth, risk mitigation and control, and cost control; and complement existing core information processing platforms. Additional information about ProfitStars and its offerings is available at http://www.manageforperformance.com or by calling 877-827-7101.
About Symitar
Symitar, a wholly owned subsidiary of Jack Henry & Associates, Inc., is a leading provider of integrated computer systems for credit unions now serving more than 600 credit union clients throughout the United States and abroad. For additional information about Symitar, visit the company's Web site at http://www.symitar.com .
About Jack Henry & Associates
Jack Henry & Associates, Inc. is a leading provider of integrated computer systems and processor of ATM/debit card/ACH transactions for banks and credit unions. Jack Henry markets and supports its systems throughout the United States, and has more than 8,600 customers nationwide. For additional information on Jack Henry, visit the company's Web site at http://www.jackhenry.com .
SOURCE Jack Henry & Associates, Inc.
Analyst Contact, Kevin D. Williams, Chief Financial Officer, +1-417-235-6652, or IR Contact, Jon Seegert, Director of Investor Relations, +1-417-235-6652, both of Jack Henry & Associates, Inc.
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