Jack Henry & Associates Inc. (JKHY) announced that it has closed the transaction initiated to acquire Goldleaf Financial Solutions Inc. (GFSI), a provider of integrated technology-based solutions primarily for the financial services industry. As a result of the acquisition, Goldleaf Financial Solutions became a wholly owned subsidiary of Jack Henry & Associates and each outstanding share of GFSI common stock automatically converted into the right to receive $0.98 in cash.
This transaction received approval by the Goldleaf Board of Directors and majority approval by the company's shareholders.
Kevin Williams, CFO of Jack Henry & Associates, said, "We also expect this acquisition to increase the value we provide our shareholders. We anticipate significant near-term cost synergies and long-term organic revenue growth, and a more diversified revenue stream. This acquisition is expected to be slightly accretive in the first full year and improve as we recognize the full impact of estimated cost synergies."
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