CU Solutions Group Announces Joint Acquisition of Software Company
CUSG and a private equity firm partner to acquire Marquis Software Solutions.
The CUSO CU Solutions Group (CUSG) has made some significant investments in new technology ventures in 2021. In its latest venture, on Tuesday CUSG announced it had jointly acquired software company Marquis Software Solutions, Inc. in a deal with the Detroit-based private equity firm Rockbridge Growth Equity.
CUSG, known for its credit union services in technology, HR, marketing and strategic consultation, announced in a statement that the joint acquisition of the Plano, Texas-based Marquis supported CUSG’s growth plans as Marquis already provides data analytics and software services for nearly 450 credit unions.
CUSG President/CEO Dave Adams said, “There has been an increasing demand among credit unions for resources that make it easier to communicate with members and drive consistently positive member experiences. We are thrilled by this new strategic partnership with Marquis that aligns so closely with our vision for the future of CUSG’s Marketing Solutions, LLC.”
According to the statement, CUSG has a vision to become a leader “for credit unions requiring actionable insights derived from sophisticated multi-channel member engagement data.” That goal could be in reach as Marquis already uses proprietary marketing consumer information file programs, as well as an integrated client relationship management system and a marketing automation platform used by many credit unions.
Marquis President/CEO Susan Faulkner said, “Marquis’ goal is to make it easier for our clients to assemble and analyze complex customer data, behaviors and needs into actionable solutions for their customers. We look forward to partnering with CUSG and leveraging their unique understanding of credit union needs, as we continue to prioritize this important financial service sector.”
Earlier this year, CUSG and four other organizations invested millions to create the new CUSO Think|Stack, which specializes in credit unions with a focus on cloud and cybersecurity issues. In 2020, CUSG partnered with Pentagon Federal Credit Union to invest in the White64 marketing agency. In 2019, CUSG also acquired MemberXP; a Denver-based company that serves numerous credit unions across the country by collecting and providing executives with member feedback on processes, products and employees.
Financial details of the joint acquisition were not disclosed. However, as part of the acquisition deal, Adams will sit on Marquis’ board of directors.