Jack Henry enters acquisition agreement

Monett-based financial data software maker Jack Henry & Associates announced Aug. 17 that it is acquiring Goldleaf Financial Solutions Inc.

Georgia-based Goldleaf, which provides data processing and check imaging for small banks, will become a wholly-owned Jack Henry subsidiary under the terms of the deal. Goldleaf shareholders, who still need to approve the deal, will receive 98 cents per share in cash - about 40 percent higher than the company's Aug. 14 closing price. Based on about 19.5 million outstanding shares, the deal is worth $19.1 million.

The acquisition, which is expected to close at the end of the third quarter or early in the fourth quarter, would be the first acquisition for Jack Henry in nearly two years; the company bought U.S. Banking Alliance in November 2007.

"Following this merger, our revenue stream will be slightly more diversified and we anticipate long-term organic revenue growth ..." CEO Jack Prim said in a news release. "We believe this transaction will increase the value that we provide to our shareholders and our customers."

Shares of Jack Henry stock (Nasdaq: JKHY) closed Aug. 21 at $23.59, near the company's 52-week high of $23.97. Shares were trading up 0.5 percent to $23.70 as of 10 a.m. Central time.