Atris Technology Acquires Hogan Financial Systems
Atris Technology has announced the acquisition of Hogan Financial Systems, an operational and consulting services provider for community banks for an undisclosed amount.
This is technology M&A deal number 205 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
Atris provides software and services for financial institutions in the United States. The acquisition will allow each company to expand its respective portfolio of end-to-end retail banking solutions and services, the companies said.
Banking solutions from both companies are already closely aligned, according to Atris, including advanced teller automation, back-office automation, back-up and disaster recovery, and protection against ransomware.
Hogan Financial is headquartered in Flower Mound, Texas. The company’s founder and CEO Ken Hogan will remain onboard indefinitely, as an FI operations consultant for Atris, the company said.
Atris Technology Acquires Hogan Financial Systems: Leadership Insight
Dan Roberts, technology director and managing partner, Atris, said:
“Hogan Financial Systems fits our growth strategy and will enable Atris to rapidly broaden our software and services offerings in the fast-changing SMB financial space. Combining state-of-the-art retail banking software with experienced back-office and service-delivery teams will enable our clients to respond to new opportunities and threats as digital transformation takes greater priority in our sector.”
Scott McElhiney, sales manager and partner, Atris, added:
“This convergence creates new opportunities for clients. A combined portfolio of software and managed services helps banks and credit unions reduce complexity and streamline vendor relationships.”
Ken Hogan, founder and CEO, Hogan Financial Systems, commented:
“We know Atris well and have worked alongside them for several years now. We share the same values and ongoing commitment to our respective customers, and we are thrilled to add Atris’ competencies and extensive expertise to serve our customers better.”
Financial Services M&A
While M&A activity across the MSP sector remains strong with ChannelE2E tracking thousands of deals since 2019, many of those deals are centered on specific vertical markets. Among the most popular is the financial services sector, which includes community banks, credit unions, Wall Street firms and private equity firms.
ChannelE2E maintains a list of deals which can be seen here.