LAGUNA NIGUEL and SACRAMENTO, Calif., Feb. 26, 2008 (PRIME NEWSWIRE) -- INFINITE Software Corporation (Pink Sheets:IFSC), a leader in Legacy Extension, Business Intelligence and loan production software for banks, credit unions and consumer lending institutions and developer of the award-winning INFINITE product lines, announced it has acquired a controlling interest in Altos Technology Group based in Sacramento, CA.
The combined organization will be comprised of a global software services and infrastructure company that enjoys over 100,000 installations in 56 countries. "We are very pleased to announce this new business combination. For some time, we have sought the right team to move forward with our plans for to grow our infrastructure business around HP Enterprise Servers. We can now say that we have found it. The combination of INFINITE Software and Altos Technology Group will build on the existing relationship both companies enjoy with HP. Altos Technology Group is one of HP's fastest growing partners. The combined entity is expected to more than double existing revenues," said Bruce Acacio, CEO.
Altos Technology Group, Inc. is one of the fastest growing suppliers of HP Enterprise Solutions and Services. "We have achieved tremendous growth through our unique focus on Enterprise Infrastructure. Our technical competencies and strategic partnerships provide us with stronger margins than most other infrastructure companies," said Brady Flaherty, Principal, Altos Technology Group. "When we were seeking a strategic growth partner, we wanted an organization that is HP solution focused. Altos and INFINITE Software will redefine the Enterprise Solution approach," added Flaherty.
Altos Technology Group shall be operated as an independent division of INFINITE Software and anticipates no changes in staffing. The financial terms of the transaction have not been disclosed.
About INFINITE Software Corporation
INFINITE Software is a global provider of software and services for the legacy extension and financial services markets. The company is headquartered in Orange County, CA and operates globally from offices in Asia, North America, South America and Europe. The Company's products are marketed under the brand names INFINITE and LPS. INFINITE Software enjoys over 100,000 installations in 56 countries.
About Altos Technology Group, Incorporated
Altos Technology Group is a leading Information Technology consulting company and provider of comprehensive enterprise infrastructure solutions. Altos aligns only principal manufacturers and proven technologies to provide our clients' best-in-class solutions. The enterprise infrastructure and business continuity focus of Altos allows a concentration on the key technology challenges faced by all organizations.
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