Jack Henry acquires Wisconsin product line

The April 1 acquisition adds Madison, Wis.-based CUNA’s CUPRO and CUPRO Express Asset Liability Management programs to its line. Terms of the agreement were not disclosed.

The move is part of CUNA’s decision to phase out its ALM software business and focus on providing balance sheet and investment management products and services, said Kevin Thompson, vice president of CUNA Mutual’s credit union financial products, in a news release.

The acquisition also expands CUNA Mutual’s strategic relationship with Jack Henry’s Profitstar product and service line. The two companies first connected in April 2005, when CUNA Mutual partnered with Profitstar Inc. of Omaha, Neb.

Jack Henry acquired Profitstar Inc. in November.

The CUPRO ALM and Profitstar products will be offered under Jack Henry’s recently launched brand, ProfitStars.

ProfitStars is a provider of ALM, profitability, budgeting and financial management solutions with more than 2,850 clients.

According to a news release from the company, the transaction is “not expected to have an immediate impact on Jack Henry’s financial performance.”

This story originally appeared in SBJ’s April 17 free e-news Daily Update. Click here to register.