ST. CLOUD, Minn. — To bolster its technology solutions lineup, Wolters Kluwer Financial Services has acquired GulfPak Corp., a provider of automated lending and account origination solutions to more than 700 financial institutions.
According to both companies, each has complementary product offerings. Wolters Kluwer customers will benefit from new functionalities, including GulfPak's expertise in creating interfaces to imaging and core processing systems. GulfPak customers will benefit from access to Wolters Kluwer products, such as online learning and Financial Intelligence Solutions and compliance content.
The Jackson, Miss.-based GulfPak will become part of the Financial Services business unit of Wolters Kluwer, whose product brands include Bankers Systems, PCi and its Wiz(R) solutions, and VMP(R) Mortgage Solutions.
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"This acquisition will allow Wolters Kluwer to expand upon the breadth and depth of our technology solutions that help financial organizations manage risk and improve efficiencies across their entire enterprise," said Brian Longe, president/COO of Wolters Kluwer.
Jay Tindall, president/CEO of GulfPak, will join the Wolters Kluwer's management team and will continue to provide leadership for the Jackson operation where GulfPak has approximately 37 employees.
Terms of the purchase agreement were not released. The acquisition is subject to GulfPak shareholder approval.
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