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  6. Cornerstone Advisors Acquires BankSmart

Add-on Acquisition • Business Services

Cornerstone Advisors Acquires BankSmart

On July 12, 2023, Cornerstone Advisors acquired business services company BankSmart

Acquisition Context
  • This is Cornerstone Advisors’ 2nd transaction in the Business Services sector.
  • This is Cornerstone Advisors’ 3rd transaction in the United States.
  • This is Cornerstone Advisors’ 3rd transaction in Florida.

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M&A Deal Summary
Date July 12, 2023
Target BankSmart
Sector Business Services
Buyer(s) Cornerstone Advisors
Deal Type Add-on Acquisition

Target Company

BankSmart

Clearwater, Florida, United States
BankSmart is a consulting firm specializing in bank operations, vendor selection, project management solutions, and payments. It provides a wide range of bank and credit union operations consulting services and project management solutions to community banks, savings institutions, credit union, and financial institutions. BankSmart was formed in 2008 and is based in Clearwater, Florida.
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Buyer Overview 1

Buyer

Cornerstone Advisors

Scottsdale, Arizona, United States
Category Company
Founded 2002
Sector Business Services
DESCRIPTION

Cornerstone Advisors is a provider of advisory services to banking institutions. Cornerstone is the major authority on driving revenue and profitability improvements for mid-size banks and credit unions. Cornerstone Advisors was founded in 2002 and is based in Scottsdale, Arizona.

Deal Context for Buyer #
Overall 3 of 3
Sector: Business Services 2 of 2
Type: Add-on Acquisition 3 of 3
State: Florida 3 of 3
Country: United States 3 of 3
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Next Step

Orlando, Florida, United States

Next Step is a provider of complete core, digital banking, and key ancillary system selection, contract negotiations, conversion management, and process improvement services for growing financial institutions. Next Step is based in Orlando, Florida.

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