TORONTO, April 24, 2012 /CNW/ - Davis + Henderson Corporation ("D+H")
today announced that it has completed a strategic minority investment
in Santa Ana, California based Compushare, Inc., a technology
management and cloud computing provider to financial institutions.
Terms of the investment were not disclosed but are not material to
D+H's financial position.
This investment continues to grow D+H's capabilities in the North
American FinTech space and complements its existing footprint among
U.S. Community Banks and Credit Unions where D+H provides Software as a
Service (SaaS) mortgage and loan origination solutions through its
Mortgagebot subsidiary to close to 1,100 banks. "Our goal is to be a
leading solutions provider to the North American financial services
industry and we believe this investment in Compushare continues to
strengthen our ability to deliver on our vision," stated Gerrard
Schmid, CEO of D+H. "In particular, this investment enables us to
participate in the growing needs of U.S. Community Banks and Credit
Unions for cloud delivered services and applications to better allow
them to focus on their core business and more effectively support their
growth. We look forward to working with the talented team at
Compushare as they expand their business."
Compushare offers an enterprise suite of technology solutions that helps
Community Banks, Credit Unions and other financial services firms focus
on their operations, franchise value and safety through a range of
Systems Management, Network Security, Applications Solutions and
Compliance management products and services. Compushare currently
serves approximately 300 customers with these solutions.
Romir Bosu, CEO of Compushare stated that "We are excited to have D+H as
a strategic partner and shareholder. D+H's investment in Compushare
will enable us to accelerate our growth and pursue additional
opportunities with Community Banks and Credit Unions throughout the
United States. With the only true community cloud based solution
offered to a market that is readily adopting the technology, we will be
better positioned to meet this demand, while continuing to invest in
additional innovative solutions. We are pleased to partner with a
large financial services solution provider with deep experience in
serving the needs of a wide range of financial institutions in North
America."
About D+H:
D+H is a leading solutions provider to the North American financial
services marketplace. Founded in 1875, the company today provides
innovative technology-based programs, products and business services
tailored to our customer's needs. We embrace thought leadership and are
continuously expanding our capabilities and expertise to better
anticipate the needs of our customers, build trust and deliver on our
promises.
For over 130 years, we have demonstrated a proven track record of
success and a deeply rooted tradition of developing and nurturing
valued customer relationships. Our mission is to provide a unique and
broad set of integrated solutions that help our customers deepen
relationships with their own clients.
For more information about D+H visit www.dhltd.com
About Compushare
Compushare is the leading provider of high quality, innovative
technology and compliance solutions for the financial market. Whether
it's providing a totally outsourced cloud computing solution or
assisting with the management of technology or IT strategic plans,
Compushare takes a consultative approach to its solutions. With more
than 15 years of technology experience supporting over 800 financial
clients nationwide, Compushare is an SSAE 16, SOC 2 Type II, FDIC
reviewed, and preferred partner with many major providers. From the
leadership team to the members of the service delivery team, the array
of knowledge, certifications and practical expertise is unrivaled in
the Financial Services Industry.
Learn more about Compushare, Inc. at www.compushare.com.
Forward-Looking Information
This press release contains certain statements that constitute
forward-looking information within the meaning of applicable securities
laws ("forward-looking statements"). Statements concerning D+H's
objectives, goals, strategies, intentions, plans, beliefs, expectations
and estimates, and the business, operations, financial performance and
condition of D+H are forward-looking statements. The words "believe",
"expect", "anticipate", "estimate", "intend", "may", "will", "would"
and similar expressions and the negative of such expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
forward-looking statements are subject to important assumptions,
including the following specific assumptions: the ability of D+H to
meet its revenue, EBITDA and Adjusted net income targets; general
industry and economic conditions; changes in D+H's relationship with
its customers and suppliers; pricing pressures and other competitive
factors; the anticipated effect of acquisitions on the financial
performance of D+H; and the expected benefits arising as a result of
the acquisitions. D+H has also made certain macroeconomic and general
industry assumptions in the preparation of such forward-looking
statements. While D+H considers these factors and assumptions to be
reasonable based on information currently available, there can be no
assurance that actual results will be consistent with these
forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Business, or developments in D+H's
industry, to differ materially from the anticipated results,
performance, achievements or developments expressed or implied by such
forward-looking statements.
Risks related to forward-looking statements include, among other things,
challenges presented by declines in the use of personal and business
cheques; D+H's dependence on a limited number of large financial
institution customers and dependence on their acceptance of new
programs; strategic initiatives being undertaken to meet D+H's
financial objective; stability and growth in the real estate, mortgage
and lending markets; as well as general market conditions, including
economic and interest rate dynamics. Given these uncertainties, readers
are cautioned not to place undue reliance on such forward-looking
statements. The documents incorporated by reference herein also
identify additional factors that could affect the operating results and
performance of D+H. Forward-looking statements are based on
management's current plans, estimates, projections, beliefs and
opinions, and D+H does not undertake any obligation to update
forward-looking statements should assumptions related to these plans,
estimates, projections, beliefs and opinions change except as required
by applicable securities laws.
All of the forward-looking statements made in this press release are
qualified by these cautionary statements and other cautionary
statements or factors contained herein, and there can be no assurance
that the actual results or developments will be realized or, even if
substantially realized, that they will have the expected consequences
to, or effects on, D+H.
