FRS to buy Providus compliance software
FRS, a division of S1 Corporation, is to buy the Providus risk management and compliance arm of Zions Bancorporation for $800,000.
The company expects rapid growth in the market in the next four years.
FRS will pay $800,000 cash for Providus' intellectual property and customers, and some of its assets and executives. It will also pay an undetermined earn-out based on licence sales. Existing Risk Resolve customers include Calyon, the National Bank of Canada, and the Union Bank of California.
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