NXTsoft Announces Acquisition of Integrated Legacy Solutions
NXTsoft, a company that delivers intelligent risk management solutions focused in the areas of compliance, data analytics and cybersecurity acquired Birmingham, Ala,-based Integrated Legacy Solutions (ILS), adding $5 million in annual revenue to NXTsoft.
BIRMINGHAM, Ala., March 6, 2019 /PRNewswire-PRWeb/ -- NXTsoft, a company that delivers intelligent risk management solutions focused in the areas of compliance, data analytics and cybersecurity, today announced the acquisition of Birmingham, Alabama-based Integrated Legacy Solutions (ILS). The acquisition of ILS will add $5 million in annual revenue to NXTsoft.
ILS offers image and data conversion migration technology for the financial services industry. The company specializes in data management through one of three methods: full data conversion into a new system, data migration into its flagship OmniView Browser™ or a blended approach that combines the two.
Founded in 2013 by Kris Bishop, ILS has 17 employees and has completed more than 500 archive conversion or migration projects and has more than 160 banks and credit union customers running the OmniView Browser for their long term research and printing needs. NXTsoft plans to retain the entire ILS staff, with Bishop remaining as CEO of the business unit.
NXTsoft intends to cross-sell its existing compliance, data analytics and cybersecurity solutions into the current ILS customer base as well as augment the company's existing sales and marketing efforts to continue to grow their core business.
"ILS is respected as a leading provider of legacy data migration and conversion tools to the financial industry," said David Brasfield, CEO of NXTsoft. "We anticipate that Kris and the ILS team joining the NXTsoft umbrella will engender additional sales and development opportunities for both parties," Brasfield said.
"NXTsoft has proven track record in developing and growing companies similar to ILS," said Kris Bishop, president and CEO of ILS. "Competence of the management team, commitment to product development and customer service and the positive work culture all factored in the decision to join NXTsoft," Bishop said.
ILS was assisted by Benchmark International in the facilitation of this transaction.
About NXTsoft
NXTsoft builds and grows companies using management's core strengths in sales and marketing, software development, business scaling, and capital access. The company's focus is concentrated in risk management, which includes cybersecurity, compliance and risk analytic delivered by companies that include FIMAC, ThreatAdvice, Springhouse Compliance and Echo Partners. For more information visit http://www.nxtsoft.com, email [email protected] or call 1-800-915-3381.
About ILS
Headquartered in Birmingham, Ala., Integrated Legacy Solutions (ILS) provides industry leading technology for legacy image and core data migrations and conversions to the financial industry. ILS's leadership team has performed data conversion for thousands of financial institutions over their nearly 20 years in the business. Through ILS's flagship product, OmniView™ Browser, efficient business model and its focused expertise, ILS has designed innovative ways to "migrate" legacy data much faster and less expensive than other costly and time consuming methods of data conversion. ILS's success is focused on 3 key areas; customer service, the business (or conversion) process and the latest technology to convert or migrate legacy systems quickly with minimal disruption to the client's production environment. For more information, visit http://www.integratedlegacy.com.
About Benchmark International
Benchmark International's global offices provide business owners in the middle market and lower middle market with creative, value-maximizing solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $5 billion across 30 industries worldwide. With decades of global M&A experience, Benchmark International's deal teams, working from 13 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses. http://www.benchmarkcorporate.com.
SOURCE NXTsoft
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