Jack Henry & Associates Inc. and Goldleaf Financial Solutions Inc. have entered into a definitive agreement for Jack Henry to acquire Goldleaf, the companies announced today.
Under the terms of the agreement, Goldleaf, a provider of integrated technology-based solutions designed to improve the performance of financial institutions, will become a wholly owned subsidiary of Jack Henry, a provider of integrated technology solutions and data processing services for financial institutions.
Goldleaf's shareholders will receive $0.98 per share in cash in exchange for their shares, representing a premium of approximately 40% over Goldleaf's closing share price on Aug. 14. In addition, Jack Henry will retire certain of Goldleaf's outstanding debt and accrued interest obligations, which is anticipated to equal approximately $42 million at closing.
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