Charlotte, NC; October 1, 2009 — DecisionPoint International, a global leader in M&A advisory services for middle-market technology clients, announced today that its client, Computer Services, Inc. (“CSI” or “Company”) has acquired Myriad Systems, Inc. (“MSI”). MSI is a leading provider of print and mail, online document delivery, and item processing solutions for financial institutions across the United States.
“The MSI acquisition will strengthen our suite of products and services for financial institutions by adding an industry-leading platform for statement and document delivery,” stated Steven A. Powless, President and CEO of CSI. “MSI currently provides services to about 1,500 banks and credit unions, in addition to customers in the education, government and retailing sectors. “We expect to leverage the MSI acquisition by expanding sales across our respective customers in the financial services industries. MSI’s strength in providing print and mail services for statements, online document delivery and item processing solutions has broad applications for our banking customers. In addition, MSI adds a strong customer base of credit unions that should expand sales potential for CSI’s services, including network management and regulatory compliance solutions.
“We are pleased that Shaun Riney, President of MSI, will continue to lead the MSI team following the acquisition. Shaun and his team have an excellent reputation for providing innovative technology solutions and exceptional customer service. They have grown the company at double-digit rates in each of the past four years. MSI’s success has been driven by its talented staff members, who have produced a strong recurring revenue base with high customer retention rates,” continued Mr. Powless.
Details of the transaction were not disclosed.
About Myriad Systems, Inc.
Myriad Systems Inc. (MSI) is a leading provider of print and mail, online document delivery, and item processing solutions for financial institutions across the United States. The company processes, prints, and mails financial statements and notices; archives statements, notices, and other types of documents for online delivery and research; and facilitates the clearing of checks between customers and their banks, as well as between banks and check exchanges. For further information, visit www.MyriadSystems.com.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, and regulatory compliance solutions to over 4,600 financial institutions and corporate entities. Technology planning, local account managers and world-class customer service explain why CSI has come to be known as one of the nation’s premier providers of banking solutions. CSI’s stock is traded on the OTCQX under the symbol CSVI. For further information, visit www.CSIweb.com.
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Douglas Ellis, Managing Partner; (704) 916-9070; DEllis@DecisionPointINT.com.