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Jack Henry buys fintech firm

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Jack Henry & Associates Inc. (Nasdaq: JKHY) recently purchased a financial technology firm.

The acquisition of Geezeo, a Boston-based retail and business digital financial software provider, was announced in a news release last week. Terms of the deal were not disclosed.

"Consumers and businesses are relying on digital technologies now more than ever, and Jack Henry is committed to ensuring our clients are future-ready with personalized, seamless and appropriately simple digital banking solutions,” said Ron Moses, vice president of Jack Henry and general manager of consumer and commercial solutions, in the release.

“We've been strong business partners with Geezeo for years, and we're excited to have them join Jack Henry, bringing their outstanding technology and talent to continue enhancing our digital platform."

The 2006-founded Geezeo’s solutions joined Jack Henry’s ProfitStars division through the deal. Some 500 financial institutions have used Geezeo’s services.

The latest deal follows two acquisitions made last year by Jack Henry, which bought Bethlehem, Pennsylvania-based Bolts Technologies Inc. and Longwood, Florida-based Agiletics Inc.

The Monett-based financial industry software firm most recently reported fiscal second-quarter earnings of $68.1 million, a 58% drop from $161.2 million a year earlier.

JKHY shares were trading at $135.99 as of 11:11 a.m., compared with a 52-week range of $120.20 to $163.68.


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