Bluepoint Solutions, Inc. Announces the Acquisition of Avalon International, Inc.
–Blending industry-leading item capture and item processing technology products will offer financial institutions true end-to-end solutions–
Vista, California, July 29, 2008 - Bluepoint Solutions, Inc., an innovator in Check 21, remote deposit capture, electronic document management and multi-factor identification software technology for financial institutions and Avalon International, Inc., a leading provider of .Net technology solutions for image payment and advanced item processing, today announced that Avalon International has been acquired by Bluepoint Solutions. Avalon International, located in Norcross, Georgia, will operate as a wholly-owned subsidiary of Bluepoint Solutions. Further terms of the agreement were not announced.
“This acquisition unites two industry innovators currently delivering feature-rich software technology solutions to financial institutions,” says Naseer Nasim, CEO of Bluepoint Solutions. “Our clients have asked us for an end-to-end image based Check 21 capture and item processing solution. With this acquisition, our combined solution offers the most comprehensive next generation suite of image-enabled products to the industry.”
“The transition to the combined operations will be seamless for current clients,” says Seth Narayanan, CEO of Avalon International. “Leveraging the strengths of our combined companies positions us to remain focused on our clients’ needs and provides new opportunities to better serve our clients and further support our commitment to delivering the most advanced technology and a superior customer experience.”
About Avalon International
Founded in 1991, Avalon International is a fast-growing provider of software products for the Check21 marketplace. Combining intellectual capital with precision thinking and relentless execution skills, the company delivers unique, powerful, and reliable software solutions. ImagePoint, its flagship product, is built for Check21 from the ground up using Microsoft .NET, Web Services and features SQL Server and Oracle. Avalon combines today’s technology and the latest in regulatory advances in banking to deliver a set of powerful solutions to its customers. The company is headquartered in Norcross, GA. For more information, contact Seth Narayanan, 888-21-AVALON, or visit its Web site at www.avalonintl.com.