Metavante to Acquire GHR Systems

Metavante is acquiring the company from GHRs three founders and other investors. The $65 million acquisition, of which approximately $55 million will be funded using Marshall & Ilsley Corporation common stock, is expected to close in the third quarter, pending regulatory approval and other customary closing conditions. The purchase is not expected to have a material impact on M&I?s financial results. The company will continue to operate under the name of GHR Systems, Inc., and will become a subsidiary of Metavante Corporation. GHR Systems is a leading provider of loan origination solutions for the residential mortgage and consumer finance industries, offering point of sale products for any channel together with comprehensive underwriting, processing and closing technology. Four of the top 10 and 15 of the top 50 U.S. mortgage lenders are GHR clients. GHR systems are used by large, mid-sized, and emerging lenders to better market, sell and close loans through all distribution channels, including wholesale, retail, consumer direct and correspondent. As a leading provider of consumer finance and mortgage origination products and services, GHR will bring one of the most proven technology and market-leading solutions to our clients,? said Frank R. Martire, Metavante president and chief executive officer. ?GHR serves many of the largest U.S. financial institutions and has focused on the top-100 bank market, which is important to Metavante. We believe that the acquisition of the GHR Systems? lending solutions platform will be perceived by our clients of all asset sizes as a valued addition to our technology offerings. The GHR management team, led by Cyrus Brinn and Allan Redstone, will continue operating the business and become part of the Metavante Financial Solutions Group headed by Paul Danola, president and chief operating officer, Metavante Financial Solutions Group.