Jack Henry acquires Gladiator Technology Services July 1

According to a Jack Henry news release, Gladiator provides technology security services that help financial institutions safeguard information and transactions, and to comply with regulatory standards mandated by the federal government. Terms of the deal, which closed July 1, were not disclosed.

“Gladiator Technology Services provides the technology security services we have exclusively re-marketed to our core clients,” said Jack Henry CEO Jack Prim in a news release. “The quality of (Gladiator’s) services, and the tangible value these risk mitigation and compliance solutions have with our shared clients, made this a logical acquisition and natural expansion of our proprietary product offering. We will continue to cross-sell these Internet and network security services to our core bank and credit union clients, and can now market them to virtually any financial institution, regardless of asset size, charter and core processing platform, through our ProfitStars division.”

Jack Henry Chief Financial Officer Kevin Williams added that Gladiator is the 16th focused-diversification acquisition for the company, which provides integrated technology solutions and data-processing services for financial institutions.

“Considering that security is a top-of-mind business issue today, we are excited about the sales potential we believe resides in Gladiator’s proven solutions for gathering, monitoring, and reporting intrusions and anomalies,” Williams said.

Shares of publicly traded Jack Henry (Nasdaq: JKHY) closed July 10 at $26.19, compared to a 52-week range of $17.40 to $26.76. [[In-content Ad]]