Computer Services Inc. of Paducah, Ky., said it will be buying HEIT, a Fort Collins, Colo.-based provider of cloud-based compliance, security and IT services to credit unions and community banks.
Dan Holt, CEO of HEIT, will remain as general manager of CSI’s Managed Services Division, the companies said. The acquisition is expected to close by Sept. 1 and terms were not announced.
"CSI, like HEIT, is dedicated to providing innovative solutions to financial institutions that are backed by a team of industry experts. This is a tremendous opportunity to further invest, innovate and expand our national presence as a managed services provider, while also gaining the ability to offer many new services to our customers," Holt said.
His company serves about 450 clients from centers in Fort Collins and in Austin, Texas. The latter is the former Simpler-Webb operation that HEIT merged with last September. HEIT also recently joined with Open Solutions Inc. as an infrastructure provider for that core processor’s new global operations center.
CSI is a publicly traded company that provides core banking, payments processing, Internet, card services, network management, regulatory compliance and document delivery solutions to more than 5,200 customers.
"Financial institutions today are under more regulatory pressure and security threats than ever before," said Steve Powless, CSI's CEO. "We remain dedicated to ensuring that our customers have the highest levels of compliance and security in place. The addition of HEIT to the CSI family will provide our existing customers with expanded services, enhancing their competitiveness with more secure and efficient technology and operations."