AUSTIN, Texas — Teres Solutions Inc. has been sold to an Italian provider of credit services, management software and worldwide business information systems.
The Austin-based lending technology company will operate as a wholly owned subsidiary of Bologna-based CRIF. Terms of the deal were not disclosed.
Teres (www.teressolutions.com) was founded in 2002 and provides its SAIL direct and indirect lending solutions to a client base of 175 financial institutions, including 170 credit unions, the company said.
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The deal will allow CRIF (www.crif.com) to market the SAIL platforms to an overseas market while supporting CRIF's continued expansion into the U.S. financial services market, the companies said.
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