LAS VEGAS, Aug. 25, 2011 (GLOBE NEWSWIRE) -- BankServ, a leading provider of SaaS banking and payments systems, announced today that its acquisition by private equity firm GTCR has been formally completed. In a deal originally announced August 16, the acquisition received regulatory clearance last week and was approved by BankServ shareholders, formally closing at 9:10 a.m. Pacific Time yesterday. Completion of the deal marks the first ownership change in the nearly 15-year history of the company.
BankServ joins a portfolio of more than 25 companies under GTCR's management, including fast-growing firms in the financial services and technology, healthcare and information services and technology fields. CEO Dave Kvederis expressed enthusiasm about the company's new relationship with GTCR and to the opportunities it presents.
"Our goal at BankServ is continued growth, and GTCR has an outstanding track record of acquiring companies poised for expansion, and supporting that growth. I am thrilled about the opportunity to work with an ownership group that can help us realize our goals of elevating BankServ to the next level," Kvederis said. "As the newest member of the GTCR portfolio, I believe we are truly in elite company."
About BankServ
Founded in 1996, BankServ develops SaaS-based payment systems used by banks and corporations to transfer money quickly and efficiently around the world. The company's product lineup includes systems for wire transfers, SWIFT messaging and connectivity, remote deposit capture, online payments, mobile banking and more. Headquartered in Las Vegas, BankServ has offices in San Francisco, Salt Lake City and London. For more information, visit www.bankserv.com.
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About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the "Leaders Strategy" – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.