Update: As of Tuesday, July 16th, eGistics was officially acquired by Top Image Systems in a transaction valued at $18 million.
Today, PayStream Advisors was excited to hear the announcement of a new business 
deal involving one of its vendors, eGistics Inc., a leading provider of cloud-based banking and payments solutions. eGistsics will be acquired by Top Image Systems (TIS), the Enterprise Content Management (ECM) and Business Process Management (BPM) solutions provider. This strategic arrangement will be beneficial for both companies geographically, technologically, and financially.
A major mo
tivation for TIS’ acquisition is eGistics’ secure and compliant cloud infrastructure, which effectively aligns with TIS’ cloud-centric growth strategy. eGistics’ CloudDocs solution will be leveraged with TIS’ own system to develop on-demand, smart processing applications for AP, AR, and other financial functions. Following the acquisition, TIS will extend its software portfolio to include additional smart process applications for banking and payment processing, and will also offer several TIS applications to the existing eGistics’ customer base.
eGistic’s is excited about expanding TIS’ capabilities to their own blue chip clients in the U.S. financial sector. “We believe the combination will have a very positive reception within the eGistics customer base and in the marketplace,” said Don Dixon, a member of the eGistics Board of Directors and Managing Director and Co-Founder of Trident Capital.
Not only will eGistics be supplying their clients with more diverse applications, they will also be expanding the global scale of their customer base. TIS will similarly profit, as this acquisition will strengthen their presence in the US market. “This transaction will also provide TIS with an additional distribution vehicle for offering our native mobile capture applications to large U.S. financial institutions which we did not have before, creating a significant business opportunity,” explained Michael Schrader, TIS COO.
Top Image Systems has been developing end-to-end solutions to capture, classify, process, validate and deliver business-critical key data since 1991. The company operates all over the world—they have several international branches and their solutions have been placed in 800 enterprise-level installations in more than 40 countries. eGistics is fully confident and optimistic about this acquisition, believing that both companies share a vision for creating smart financial applications.
“Not only does eGistics share a synergistic customer base with TIS, but also a common technology stack that we can build upon to further revenue growth for the combined company,” commented Robert Lund, Chairman and Chief Executive Officer of eGistics.
PayStream Advisors congratulates eGistics on their promising and dynamic business move.
