Q2 of Austin Buys Social Money for $10.6 Million

WEBSITELOGOQ2 Holdings, an online banking company, announced this week the acquisition of Social Money, a financial services software company based in Des Moines, Iowa for $10.6 million.

The Austin-based company, traded on the New York Stock Exchange under the symbol QTWO, said Social Money is best known for its cloud-based platform called SmartyPigproduct that assists financial institutions.

“Social Money’s technology portfolio and expertise make this a strategic acquisition that will help Q2’s customers expand their reach, grow market share and engage account holders,” Matt Flake, president and CEO of Q2 said in a news release. “The digital banking experience matters when it comes to reaching millennials and retaining existing account holders. We are committed to providing community financial institutions innovative technology specifically designed for the increasingly digital modern consumer, and I believe the addition of Social Money will help us do just that.”

Q2 plans to rebrand Social Money and offer its technology to customers next year. Meanwhile, Social Money will continue its relationship with existing clients.

Comments

  1. Robert Dreyfuss, great grandchild to the founding father Moise Dreyfuss, still
    runs Rotary Watches Ltd with his family. The LED flashlight is an artificiallighting solutiondesigned for portability as well as durability.

    Putters: This is the last category and for me, the most beautiful of them.

  2. Every creator painfully experiences http://lawyerbusinesscards.net/item,240823225334942720 the chasm between his inner vision and its ultimate expression.

Speak Your Mind

*