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Carreker
Corporation Press Release - July
1, 2002
CARREKER HIRES BEAR STEARNS
EXECUTIVE FOR STRATEGIC PLANNING
AND M&A;
ELECTS TWO NEW CORPORATE OFFICERS
DALLAS (July 01, 2002) — Carreker
Corporation (Nasdaq: CANI ) , a leading
provider of consulting and technology
solutions for financial institutions,
announced that Brian D. Jones, a
thirteen-year veteran of Bear, Stearns & Co.
Inc., has joined Carreker as head
of Strategic Planning and Mergers & Acquisitions.
In addition, Jones and John D. Carreker
III were elected Executive Vice Presidents
of Carreker Corporation by the Board
of Directors at its June 25 meeting.
Carreker is Managing Director of
the company’s London-based
International business unit, having
previously held management and consulting
positions in his eleven years with
the company.
Said J. D. (Denny) Carreker, Chairman
and CEO of Carreker Corporation, “At
this stage in our growth, and in
the current economic environment,
we are fortunate to have many strategic
options and a target-rich M&A
environment. To help us speedily
make the best choices and investments,
we are fortunate to have Brian’s
expertise in M&A and corporate
finance, plus his Wall Street savvy
and long-standing relationships with
senior executives at the country’s
largest banks.”
He added, “John’s election
by the board reflects the importance
of the international component of
our business which he launched three
years ago. We now serve most of the
large banks in our target countries,
and international business contributes
about 20 percent of our revenue,
thanks to John’s ability to
understand the unique needs of banks
in those markets.”
Jones was Senior Managing Director
of Bear Stearns Investment Banking,
where he was a member of the firm’s
Global Financial Institutions Group,
responsible for managing the Dallas
FIG office. He oversaw broad-based
relationships with a national client
base of mid- and large-cap US depository
institutions, finance companies and
broker/dealers. He was responsible
for originating and executing mergers
and acquisitions, general financial
advisory assignments, and public
and private financings of debt, equity
and structured products. Since 1997,
he was involved in raising more than
$30 billion in debt and equity for
Bear Stearns clients.
Said Jones, “Carreker Corporation
represents a unique and exciting
opportunity, with its extraordinary
client base, reputation, competitive
position, and strong vision for the
future. I see Carreker poised to
become an expert consolidator among
bank solutions providers, and I look
forward to helping guide and implement
strategy and M&A decisions in
an entrepreneurial environment.”
About Carreker Corporation
Carreker Corporation improves earnings
for financial institutions around
the world. The Company’s integrated
consulting and software solutions
are designed to increase our clients’ revenues
and reduce expenses, while improving
security and increasing the value
of their customer relationships.
Carreker provides products and services
to more than 250 clients in the United
States, Canada, the United Kingdom,
Ireland, Australia, and South Africa.
Clients consist of the full range
of community, regional and large
banks, including more than 75 of
the largest 100 banks in the United
States. Headquartered in Dallas,
Texas since 1978, Carreker Corporation
also has offices located around the
world including London, Toronto,
and Sydney. For more information,
visit www.carreker.com.
Forward Looking Statement — This
document contains forward-looking
statements based on current expectations
that are inherently subject to
risks and uncertainties. The words "estimate," "project," "intend," "expect," "believe," "plan" and
similar expressions are intended
to identify forward-looking statements.
The Company's actual results could
differ materially from those currently
anticipated due to a number of
factors, including, but not limited
to, changes in the banking industry’s
demand for the Company’s
solutions, significant customer
concentration and the potential
loss of a significant customer,
variations in operating results,
reduction in revenues due to pricing
arrangements, the infrequent use
of long-term contracts with customers,
the focus of the Company's technology
and consulting solutions and the
chance that they will not be accepted
in the marketplace, risks associated
with rapid growth in the Company’s
business, the inability to attract
and retain key personnel, existence
of defects or errors in the Company’s
software, ability to develop new
technologies and services, ability
to meet the changing needs of customers,
dependence on third-party Internet
providers and the Internet, intense
competition, risks associated with
strategic alliances and acquisitions,
inability to protect the Company's
proprietary rights, infringement
and other claims and related expenses,
reliance on third-party licenses,
volatility in the Company's stock
price, exposure to risks associated
with our indebtedness, international
operations, reliance on independent
contractors, adoption of Financial
Accounting Standard No. 142, governmental
regulation and legal uncertainties
and anti-takeover provisions in
the Company's charter documents
and under applicable law. These
and other factors are set forth
in the Company's annual report
on Form 10-K filed on April 15,
2002 and in other reports and documents
filed by the Company with the Securities
and Exchange Commission from time
to time.
Carreker
Corporation Contacts:
Michelle
Tanner, PR Manager
972 371-1582 PH
972 233-7831 FX
Email: mtanner@carreker.com
Terry
Gage, Executive Vice President,
CFO
972 371-1454 PH
972 701-0758 FX
Email: tgage@carreker.com
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