The financial software developer Integrated Bank Technology Inc. plans to announce today that it has acquired MICR Resource Management Inc., a Chicago service bureau.
Mark Dittman, IBT's chief executive, said Friday that the deal closed Thursday. He would not say how much his Cedar Park, Tex., company paid.
The 70 clients in MRM's data center run IBT's Integrated Bank Environment software on top of a Fidelity National Information Services Inc. core banking system that handles deposit accounts.
Mike Golebiowski, MRM's founder and its president until the purchase, has been named the president of IBT and will oversee its day-to-day operations. He said MRM's customers are small Chicago-area thrifts and credit unions, including a $3 billion-asset company with 12 bank charters.
Mr. Dittman said that his company intends to expand MRM, which offers hosted services such as statement rendering and keying. IBT wants especially to offer MRM's hot-backup disaster recovery services, which save computer data to a backup system in real time, Mr. Dittman said. "Geography doesn't mean what it used to."
IBT serves 145 community banks, most of them with $250 million to $350 million of assets, he said. Its Integrated Bank Environment, based on service-oriented architecture, provides users a centralized database for viewing and managing customer relationships and transactions.
