Trellance Expands With Acquisition of Ongoing Operations
Two credit union-focused fintechs reach a deal to expand their combined services to the industry.
The credit union fintech partner Trellance acquired information technology solutions provider Ongoing Operations in a deal that officials said will expand services and capabilities to clients across the country.
According to details of the definitive agreement to acquire Ongoing Operations, announced Nov. 23, Trellance will incorporate the IT capabilities of Ongoing Operations into the Trellance brand. Those capabilities include consulting, information security, compliance, architecture and business continuity.
Financial details of the acquisition were not disclosed.
A statement from Trellance said, “The acquisition is beneficial to all parties, as it allows Ongoing Operations to continue to serve clients and build on existing relationships with an expanded array of services, while also allowing existing clients for both companies to benefit from the combined strength and resources of Ongoing Operations and Trellance.”
Trellance President/CEO Tom Davis said, “Ongoing Operations shares our dedication to the credit union industry and we’re glad to welcome the team into Trellance. Together we will provide best-in-class technology services that enable credit unions to keep pace with banks and fintechs. This acquisition continues our path of rapid growth and innovation to more fully meet the industry’s needs.”
“Ongoing Operations has been owned by credit unions from the very beginning,” Steve Bone, Ongoing Operations CEO, said. “Trellance understands the credit union mission and has a solutions portfolio that complements our own. By joining the Trellance team, we have access to an even greater network of resources with which to support our customers.”