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Carreker
Corporation Press Release - January
19, 1999
Carreker-Antinori
to Acquire Genisys Operation, Inc.:
Synergistic to Payment Systems
Capabilities
(Dallas, TX January 19, 1999) -
Carreker-Antinori, Inc., (Nasdaq:
CANI), a leading provider of consulting
and software solutions to financial
institutions announced that it has
agreed in principle to acquire Genisys
Operation, Inc. (Genisys), a leading
provider of track and trace software
solutions to financial institutions.
This acquisition will enable Carreker-Antinori
to provide solutions which will help
financial institutions reduce costs
and increase productivity in their
check, ATM, cash, loan, and corporate
mail operations through the use of
barcode workflow and tracking technology,
and information management software.
The acquisition will be accounted
for as a pooling of interests and
calls for shareholders of Genisys
to receive 1.24 million shares of
Carreker-Antinori common stock and
is expected to be completed within
the next two weeks subject to the
completion of due diligence, and
the verification of the accretive
nature of the transaction. Genisys’ unaudited
revenue for their fiscal year ended
October 31, 1998, was $2.5million.
"This acquisition will synergistically
add to our payment systems solutions
suite," said J.D. "Denny" Carreker,
chairman and chief executive officer
of Carreker-Antinori. "Strategically,
this acquisition helps Carreker-Antinori
expand the functional areas of banking
that we serve, and improves the value
of our liquidity, risk, float management,
consolidations and best practices
core competencies. For our customers,
the key benefits are cost-reductions,
staff efficiencies, and speeding
the banks’ ability to transfer
information that is vital to their
business," said Mr. Carreker.
Kevin Taylor, President of Genisys
Operation commented, "Both Carreker-Antinori
and Genisys maintain a strong customer
focus. Joining Carreker-Antinori
will allow us to combine our software
with Carreker-Antinori’s consulting
expertise to offer a complete solution
to the banking industry. Moreover,
Genisys has traditionally worked
with clients through a single functional
unit, whereas Carreker-Antinori is
engaged across multiple functional
units, allowing them to serve as
a broad-based strategic advisor and
solutions provider. Now our sales
forces, armed with an expanded suite
of products and offerings, can work
together in approaching organizations
across several functional units,
as we pursue both new and cross-selling
business opportunities."
Only last Thursday, Genisys announced
the availability of an Internet add-on
component to their existing Receive
Sentry tracking system, ReceiveSentry.com,
which enables financial institutions
to collect and query tracking information
via the corporate Intranet or the
global Internet. "We are excited
about these emerging Internet capabilities
of Genisys and we expect to leverage
them to Internet-enable our other
capabilities where appropriate," Mr.
Carreker said.
For additional information, please
contact Public Relations, Carreker-Antinori,
(800) 486-1981, 14001 N. Dallas Parkway,
Suite 1100, Dallas, Texas 75240.
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