Battery Ventures has closed its previously announced buy of Goldleaf Enterprise Payments Inc, which includes the Alogent product line. The seller was Jack Henry & Associates. No financial terms were disclosed. In conjunction with the acquisition, Dede Wakefield, the ex-chief financial officer for GT Nexus, has been named Alogent’s chief executive while Battery’s Russell Fleischer and Jordan Welu have been added to Alogent’s board. Based in Norcross, Georgia, Alogent is a provider of deposit automation solutions for financial institutions.
BOSTON, MA–(Marketwired – Jun 1, 2016) – Battery Ventures, a global technology investment firm, announced today that it has successfully completed the acquisition of Goldleaf Enterprise Payments (GEPI), Inc., formerly the wholly-owned subsidiary of Jack Henry & Associates, Inc. (NASDAQ) that included the Alogent product line. Through the transaction, which was originally announced in April, Battery Ventures has established an independent operating business named Alogent.
As a stand-alone company, Alogent will explore opportunities to bolster its core technology — software that electronically captures, processes and analyzes check data and images — both organically and through strategic add-on acquisitions. Alogent will offer its customers — global, Tier-1 banks — best-of-breed technologies to capitalize on the growth in mobile banking by consumers and businesses.
As previously announced, Dede Wakefield, formerly the chief financial officer for cloud-based supply-chain company GT Nexus, will become Alogent’s chief executive. In addition, Battery General Partner Russell Fleischer and Battery Vice President Jordan Welu will join Alogent’s board.
Alogent will join Battery’s current portfolio of financial services companies, including: Cortera, Earnest, IDI Direct Insurance, Istra Research, Panjiva, Precidian Investments, PrimeRevenue, Q2eBanking and TechProcess.*
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.
Alogent Deposit Automation Solutions help financial institutions reduce costs, increase transaction processing efficiencies, generate revenue, mitigate fraud, and optimize the customer experience from any point of presentment — whether it is in-person at the branch, online, or on-the-go. Alogent Deposit Automation Solutions have been successfully deployed and proven at some of the largest, most sophisticated financial institutions in the world. They provide exceptional scalability, usability, integration capabilities, and control to financial institutions in support of enterprise image capture strategies. Alogent is based in Norcross, GA.