M&A Deal Summary

CSI Acquires Velocity Solutions

On September 18, 2024, CSI acquired software company Velocity Solutions from H.I.G. Private Equity

Acquisition Highlights
  • This is CSI’s 2nd transaction in the Software sector.
  • This is CSI’s 5th transaction in the United States.
  • This is CSI’s 1st transaction in Florida.

M&A Deal Summary

Date 2024-09-18
Target Velocity Solutions
Sector Software
Buyer(s) CSI
Sellers(s) H.I.G. Private Equity
Deal Type Add-on Acquisition

Target

Velocity Solutions

Fort Lauderdale, Florida, United States
Velocity Solutions provides technology solutions that drive revenue, service, and compliance for community banks and credit unions. The company's Velocity Intelligent Platform powers all of Velocity’s solutions, using machine-led intelligence that delivers powerful analytics, manages risk, and drives revenue, loans, account holder engagement, and non-interest income to its client financial institutions. Velocity Solutions was formed in 1995 and is based in Fort Lauderdale, Florida.

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Buyer(S) 1

Buyer

CSI

Paducah, Kentucky, United States

Category Company
Founded 1965
Sector Internet Software and Services
Employees1,215
Revenue 54M USD (2014)
DESCRIPTION

CSI provides core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, regulatory compliance, and document delivery solutions to financial institutions and corporate entities across the nation. CSI was founded in 1965 and is based in Paducah, Kentucky.


DEAL STATS #
Overall 5 of 6
Sector: Software M&A 2 of 2
Type: Add-on Acquisition M&A Deals 5 of 6
State: Florida M&A 1 of 1
Country: United States M&A 5 of 6
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 HEIT

Fort Collins, Colorado, United States

HEIT provides cloud-delivered IT performance, compliance and security managed services to help financial institutions improve profitability and efficiency, reduce risk, and mitigate security threats in the face of market contraction, margin compression and increasingly complex regulatory environments. HEIT's PCS-4 Platform delivers flexible, affordable service levels, handling technology management so financial institutions can focus on core business initiatives.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-19 Apiture

Wilmington, North Carolina, United States

Apiture delivers digital banking solutions to banks and credit unions throughout the U.S. The company's configurable solutions meet a wide range of financial institutions’ needs, from leveling the playing field with larger institutions to supporting growth through innovative data intelligence and embedded banking strategies. With its API-first approach, Apiture's clients can maximize the capabilities of their platform while preserving a seamless user experience. Apiture is headquartered in Wilmington, North Carolina.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 174 of 180
Sector: Software M&A 5 of 5
Type: Add-on Acquisition M&A Deals 72 of 72
State: Florida M&A 19 of 20
Country: United States M&A 120 of 123
Year: 2024 M&A 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-03 Action Elevator

Millersville, Maryland, United States

Action Elevator is a regional independent elevator services company serving building owners and property managers throughout the Mid-Atlantic region. The Company offers maintenance, repair, and modernization services critical to the operational safety and uptime across the elevator lifecycle. Action Elevator was founded in 2012 and is based in Millersville, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-25 Greenflash

Houston, Texas, United States

Greenflash acquires, develops, finances, owns, and operates grid-scale energy storage, power generation, and controllable load projects. Greenflash is based in Houston, Texas.

Buy -