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Jack Henry buys Florida bank software firm

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Jack Henry & Associates Inc. (Nasdaq: JKHY) acquired a 30-year-old banking software firm based in Florida.

Financial terms were undisclosed for the Monett-based financial industry software firm’s purchase of Longwood, Florida-based Agiletics Inc., according to a news release.

Agiletics’ software allows financial institutions to manage escrow, investment and liquidity solutions for customers. With the purchase, the company has become a part of Jack Henry Banking, the Monett company’s banking information processing division.

"Recognizing that ongoing, low-cost deposit growth is a strategic goal for most banks today, acquiring Agiletics and enhancing our product offering with its proven solutions generates new opportunities for our clients and our company,” said Stacey Zengel, president of Jack Henry Banking and vice president of Jack Henry & Associates, in the release. “Agiletics provides an array of solutions that help banks of all sizes gather commercial deposits by better serving their business customers and attracting new ones.

“And we are particularly excited about the near- and long-term benefits that Agiletics' automated escrow and investment management solutions will deliver."

The acquisition follows Jack Henry’s $130 million purchase last year of cloud-based mobile and online payment provider Ensenta Corp. in California, as well as the buyout in 2017 of Longwood, Florida-based technology firm Vanguard Software Group for undisclosed terms.

JKHY shares were trading at $158.81 as of 8:53 a.m., compared with a 52-week range of $102.89 to $163.68.

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