Goldleaf Financial Solutions Acquires Alogent Corporation

According to Lynn Boggs, CEO of Goldleaf Financial Solutions, “This acquisition benefits every financial institution that can now leverage electronic payments at every point of presentment across its enterprise. With an 18-year history in the market, from our beginning in the ACH business, we believe we have shaped a global understanding of where the market is going. That knowledge lets us proactively address the needs of financial institutions, delivering quality products and services across all spectrums. This merger solidifies our position as the leader of converging payments and a driver of innovation.”

This acquisition enables Goldleaf to lead the transition to electronic payment convergence through innovative product design, easy to deploy solutions and deep domain expertise for financial institutions of all sizes. With market leading products in more than 3,500 financial institutions, Goldleaf is a trusted partner whose solutions allow its customers to increase profitability while improving operational efficiencies.

Alogent was founded in 1995 to address check and item processing system optimization. The company’s success has been predicated on working with financial institutions to reduce the cost associated with processing paper transactions, leverage new technologies and electronic efficiencies to transition from paper to electronic processing and improve customer service by reducing customer transaction errors. Alogent’s clients include global 50 financial institutions in the U.S. and Europe, including four of the top 25 U.S. banks – HSBC, JPMorgan Chase, KeyBank and SunTrust.

Acquiring Alogent complements the company’s recent additions of Community Banking Systems (CBS) and DataTrade, LLC. Alogent will become a business unit of Goldleaf, with members of the executive management team remaining with the company. Friedman, Billings, Ramsey & Co., Inc. acted as financial advisor to Goldleaf in connection with the transaction. Financial Technology Partners LP and FTP Securities, LLC (together "FT Partners") served as exclusive strategic and financial advisor to Alogent and its board of directors in this transaction.

“This transaction provides a natural extension to our business and the additional scale enables us to take our products into virtually every corner of the marketplace,” said Brian Geisel, CEO of Alogent. “The culture, vision and philosophies of our companies are complementary and our management team is excited to have this opportunity to enact change and continue making significant contributions to further drive converging payments in the market.”