Monday, January 28, 2008

IBT Acquires MICR Resource Management

Integrated Bank Technology, a publisher of electronic exchange software for community financial institutions, announced today that it has acquired Chicago-based MICR Resource Management. Terms of the deal were not disclosed. IBT said the acquisition of MRM enables it to offer in-house and outsourcing solutions to all of its customers. IBT said its account managers will continue to work with the same customers but noted that, if needed, existing installation contracts could be converted to outsourcing agreements with minimal disruption. IBT said its staff now numbers nearly 100 employees as a result of the transaction. The Cedar Park, Texas-based company added that Mike Golebiowski, MRM's founder and former president, will now serve as IBT’s president and supervise all of its day-to-day operations.