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Jack Henry & Associates has finalized its acquisition of Payrailz.
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Jack Henry & Associates has finalized its acquisition of Payrailz.

Jack Henry finalizes acquisition, expands payments platform

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Monett-based financial software firm Jack Henry & Associates Inc. (Nasdaq: JKHY) has officially boosted its digital payment services platform through an acquisition.

The company announced today in a news release the closure of the purchase of Glastonbury, Connecticut-based Payrailz. The deal for undisclosed terms was announced in August.

"We are excited to close this acquisition and begin integrating Payrailz into Jack Henry," said David Foss, the company's CEO and board chair, in the release. "This acquisition provides our collective clients with additional functionality, optionality and flexibility, and better supports the digital and payment strategies of diverse banks and credit unions."

The projected financial impact of the acquisition is scheduled to be disclosed as part of Jack Henry's fiscal 2023 first-quarter earnings report for the months of July-September.

The most recent 52-week high for JKHY stock is $212.62 per share, set Aug. 10, the day after the Payrailz acquisition was announced. Its 52-week low is $147.50.

For fiscal 2022, ended June 30, Jack Henry reported a 17% increase in net income to $362.9 million.

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