Exhibit 99.1
Company: Jack Henry & Associates, Inc. Analyst Contact: Kevin D. Williams
663 Highway 60, P.O. Box 807 Chief Financial Officer
Monett, MO 65708 (417) 235-6652
IR Contact: Jon Seegert
Director Investor Relations
(417) 235-6652
FOR IMMEDIATE RELEASE
---------------------
JACK HENRY ANNOUNCES THE ACQUISITION OF TANGENT ANALYTICS, LLC
Monett, MO - March 2, 2005 - Jack Henry & Associates, Inc. (Nasdaq: JKHY), a
leading provider of integrated computer systems and ATM/debit card/ACH
transaction processing, today announced its acquisition of Tangent
Analytics, LLC, a leading developer of Web-based business intelligence
systems. Terms of the transaction were not disclosed.
This acquisition follows the strategic alliance established between Jack
Henry and Tangent Analytics that facilitated the joint development of the
Intelligence Warehouse and Intelligence Manager solutions. Intelligence
Warehouse is a sophisticated data consolidation, reporting, and analysis
system that is supported by Intelligence Manager, a Web-based dashboard that
provides desktop access to user-defined decision-support information,
performance metrics, and analysis tools.
According to Jack Prim, CEO of Jack Henry & Associates, "In order to
maximize performance and profits, financial institutions of all sizes must
have accessible, accurate, and timely business intelligence. Intelligence
Warehouse and Intelligence Manager are proving to be high-interest solutions
among our clients for managing strategic areas of their businesses more
effectively with consolidated, real-time decision-support information and
analytics."
Russ Bernthal, president and CEO of Tangent Analytics, said, "Intelligence
Warehouse and Intelligence Manager provide diverse financial organizations
with centralized repositories of actionable information about their
customers, products, profitability, and risks. As financial institutions
grow and expand their offerings, data gathering, reporting, and analysis
becomes dramatically more complex. Tangent's turnkey business intelligence
solutions leverage data structuring expertise and state-of-the-art data
warehouse technology to seamlessly compile the information financial
institutions need to identify and respond to business trends, and to make
more informed strategic and tactical decisions."
Tony Wormington, president of Jack Henry, reported, "We also have identified
opportunities to leverage Tangent's data consolidation, reporting, and
analysis applications to further enhance the solution suites offered by
several of our recently acquired companies, including the ATM channel
management solution provided by eClassicSystems, Inc.; and the risk
mitigation solutions provided by Optinfo, Inc. Tangent's solutions provide
the sophisticated and proven foundation for our company-wide data warehouse
solutions."
Kevin Williams, CFO of Jack Henry, concluded, "We do not expect this
acquisition to impact revenue or EPS in the near-term. But we believe the
ability to more proactively control the ongoing development and enhancement
of these solutions will provide our clients with competitively distinct
business intelligence that will become mission-critical IT solutions.
Consistent with the majority of our recent acquisitions, Tangent Analytics
also provides a product offering that is compatible with larger financial
institutions and can be sold outside our traditional markets."
About Tangent Analytics, LLC
Tangent Analytics provides a fully integrated, Web-based business
intelligence framework called BI Navigator[R], which integrates enterprise-
wide systems with other internal/external information sources to deliver the
intelligence organizations need to make better decisions faster. In addition
to the BI Navigator product, Tangent offers three tailored application
solutions in the areas of sales analytics, manufacturing operations
analytics, and financial analytics. The Tangent delivery team works with its
clients to deploy BI Navigator or a tailored application solution, provide
expert training in the use of BI Navigator, and to develop custom
applications and framework additions to meet clients' unique business
requirements.
Founded in 1999, Tangent is headquartered in Winston-Salem, NC, and services
companies across the U.S. and Canada. For additional information, please
visit Tangent's Web site at www.tangentanalytics.com
About Jack Henry & Associates, Inc.
Jack Henry (Nasdaq: JKHY) is a single source for integrated, enterprise-wide
automation that enables financial institutions to execute their dynamic
business strategies with solutions that are tailored to support their unique
growth, service, operational, and profit goals.
Jack Henry currently serves approximately 7,700 financial institutions with
solutions that blend unmatched personal service, sophisticated functional
capabilities and technology, in-house and outsourced operating environments,
industry expertise, and integrity-based business relationships.
Additional information about Jack Henry and its extensive array of products
and services is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are
forward-looking information. Actual results may differ materially from
those projected in any forward-looking information. Specifically, there are
a number of important factors that could cause actual results to differ
materially from those anticipated by any forward-looking information.
Additional information on these and other factors, which could affect the
Company's financial results, are included in its Securities and Exchange
Commission (SEC) filings on Form 10-K, and potential investors should review
these statements. Finally, there may be other factors not mentioned above
or included in the Company's SEC filings that may cause actual results to
differ materially from any forward-looking information.
thirty