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Cybersecurity and cloud solutions CUSO Think|Stack acquired another tech-focused CUSO, Emergifi, in an equity-based deal that will create a "well-rounded technology services CUSO," according to an announcement Monday.
In the announcement from the Baltimore-based Think|Stack, the merger deal includes the acquisition of Emergifi in exchange for equity and one board seat for Corporate Central Credit Union.
Emergifi was wholly-owned by Corporate Central Credit Union, based in Wisconsin and owned by 450 member credit unions.
"This acquisition will allow Think|Stack to serve a larger portion of the credit union marketplace and will make us a well-rounded technology services CUSO able to serve small and large credit unions alike," Think|Stack CEO Chris Sachse said.
Chris Sachse He added, "We are excited to provide Emergifi's and Think|Stack's existing clients with additional service offerings that we each uniquely provide, and to expand our packaged solutions to reach more smaller sized credit unions."
According to Monday's announcement, all of Emergifi's employees will be absorbed by Think|Stack in the acquisition.
Chris Felton, president/CEO of Corporate Central, and board chair for Emergifi, said, "Culture and service to our members is a core value of Emergifi, which is in alignment with Think|Stack's mantra 'People Before Tech.' This merger with Think|Stack gives us the opportunity to provide our members with tech solutions on a larger scale to improve the digital experience and fuel innovation for our members."
Current Emergifi President and Chief Technology and Strategy Officer Gregg Tushaus will become a member of the Think|Stack board of directors, according to the announcement.
Tushaus said, "Our merger with Think|Stack forms a stronger technology services company offering more comprehensive technology services, and improves our competitive position with a deeper team. With our packaged subscription service well-suited for small- to medium- size credit unions, and Think|Stack's comprehensive cloud and cybersecurity services, together we can serve credit unions of any size."
The president/CEO of Liberty Savings Federal Credit Union in Jersey City, N.J., and a member of the Think|Stack board of directors, Maria Solorzano said, "Think|Stack has become a leading CUSO providing comprehensive cloud and cyber solutions for credit unions. The acquisition of Emergifi allows us to expand our service capabilities to support smaller credit unions that don't have the in-house expertise to oversee digital transformation journeys critical to improving data protection and digital experiences for members."
Felton added, "This is an incredible growth opportunity for Emergifi staff who will benefit from Think|Stack's resources, tools and solutions, and their work with larger credit unions."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
