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
JACK HENRY ANNOUNCES THE ACQUISITION OF US BANKING ALLIANCE
Monett, MO - November 6, 2006- Jack Henry & Associates, Inc. (Nasdaq: JKHY),
a leading provider of integrated technology solutions and data processing
services for financial institutions, today announced its acquisition of US
Banking Alliance (USBA). The Atlanta, Georgia-based company is a leading
provider of software solutions and advisory services that enable diverse
financial institutions to develop more profitable pricing for loan and
deposit products, and to ultimately implement long-term financial management
processes and specific strategies that support more profitable growth.
Terms of the transaction were not disclosed.
According to Mitchell Epstein, managing partner of USBA, "Our software
solutions and industry experts help financial institutions maximize their
net interest income and expand their customer bases with a three-stage
process. Our strategy sessions are used to systematically evaluate and
enhance existing pricing strategies, or to develop new more competitive
pricing strategies. Our pricing models enable our clients to fully
analyze and understand their loan and deposit profitability and pricing
alternatives. And our financial management process focuses on implementing
more competitive pricing that supports unique growth and profitability
objectives, and proactively manages risk. We believe our proven solution is
a natural expansion to the broad array of products and services that Jack
Henry provides. We also believe that the fundamental commitment to superior
client service that our companies share will enable us to maintain the
corporate culture and rewarding levels of client satisfaction and retention
that we enjoy."
According to Jack Prim, CEO of Jack Henry & Associates, "The acquisition of
US Banking Alliance is the latest in a series of acquisitions that support
our focused diversification strategy. USBA's highly specialized solutions
will be cross sold to our existing bank and credit union core clients, and
sold under our ProfitStars[TM] brand to virtually any financial services
organization regardless of asset size, charter, or core processing solution.
We welcome the addition of USBA's solutions to our offering, and are excited
about the sales and cross-sales opportunities. We believe that proven
solutions for increasing earnings, generating quality balance sheet growth,
and implementing greater pricing discipline will have broad appeal among our
existing clients and in the markets that we serve."
"USBA marks our 15th focused diversification acquisition, and the third
acquisition of a company that provides distinct profitability solutions. We
believe the suite of profitability products and services that we have now
assembled cannot be rivaled by another single source, and we are excited
about the potential that resides in this solution suite. We expect the
acquisition of USBA will contribute $4.0 to $6.0 million in gross revenue
for the remainder of fiscal year 2007, and should have a slightly accretive
impact on EPS. I would like to welcome USBA's national client base and its
associates to the Jack Henry family," concluded Kevin Williams, CFO of Jack
Henry & Associates.
About US Banking Alliance
US Banking Alliance is dedicated to providing world-class solutions that
help diverse financial institutions develop specific strategies to maximize
net interest margin and expand their customer bases. Practical, high value
solutions that can be easily implemented and superior service are the basis
for its long-term client relationships. Additional information is available
at www.usbankingalliance.com.
About ProfitStars
ProfitStars, a division of Jack Henry & Associates (Nasdaq: JKHY), provides
best-of-breed solutions that improve the performance of financial
institutions of all asset sizes and charters, and diverse corporate
entities. These solutions facilitate revenue and growth, risk mitigation
and control, and cost control; and complement virtually any core
information processing platform. Additional information is available at
www.manageforperformance.com or by calling 877-827-7101
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. is a leading provider of integrated technology
solutions and data processing services for financial institutions. Jack
Henry markets and supports its systems throughout the United States, and has
more than 8,700 customers nationwide. For additional information on Jack
Henry, visit the company's Web site 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.
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