Tuesday, July 1, 2008

Teres Solutions Acquired By Italian Firm

Austin-based Teres Solutions, a provider of software used by credit unions and other financial institutions, said today that it has been acquired by Bologna, Italy-based CRIF. CRIF is a provider of credit services worldwide. Financial terms of the acquisition were not disclosed. According to the firms, Teres Solutions will become a wholly owned subsidiary of CRIF. Teres Solutions provides software used for managing both indirect and direct lending; the firm said it has relationships with over 175 credit unions and financial institutions in North America.