Business Unit Carve-out to Reinforce Digital Check’s Worldwide Leadership Position in Digital Imaging and Financial Technology
Northbrook, IL – September 19, 2016 – Digital Check Corp (DCC), a leading provider of image capture and payments processing technology, has agreed to an asset purchase with Burroughs Inc. that includes the people, products, and expertise supporting the SmartSource®, Elite™, Quantum DS™, and ReceiptNow® family of products. Terms of the transaction were not disclosed. Going forward, the acquired assets will become an integrated part of Digital Check’s operation and take on the Digital Check brand name.
The acquisition significantly broadens Digital Check's product lineup and it bolsters the company's global network of reseller and partner relationships. The new DCC will consolidate the reputations of both brands for thought leadership, proven product performance and responsive service and support. Thomas P. Anderson, who will continue as President and CEO, states that "Digital Check has been a pioneer and leader in the check scanning industry, and this acquisition brings together two of the most trusted brands, allowing us to even better serve our customers and partners around the world."
Regarding the transaction, Larry McCarter, President and CEO of Burroughs, remarks "We are pleased to announce the combination of the Burroughs SmartSource scanner business unit with our market competitor, Digital Check, through their acquisition with effect from September 19, 2016. We have taken great pride in developing and innovating the SmartSource scanner product family for the past 20 years, which is reflected by it being one of the market leaders. The merging of the SmartSource Scanners with Digital Check clearly creates a single leader in check scanning solutions. Burroughs will be working closely with Digital Check to ensure our customers experience a smooth transition, supported by the highest level of service for our installed base of scanners for years to come."
As an important part of the deal, Bruce Young, currently the General Manager of the Burroughs check scanner and receipt printer business, will join the Digital Check as VP, General Manager - SmartSource Scanner Business, and will oversee product engineering and development. Digital Check will maintain operations of the newly acquired group in Plymouth, MI.
About Digital Check
Digital Check provides premium check scanners and document capture products for teller capture, branch automation, remote deposit capture, and remote lockbox applications. Digital Check’s award-winning TellerScan®, CheXpress®, BranchXpress®, and SB™ electronic scanners are the most reliable and cost-effective in the industry, and provide high-quality images with precise MICR accuracy.
Digital Check’s worldwide presence includes its engineering and assembly plant in Rancho Cucamonga, CA, its software solutions group in Farmers Branch, TX, its corporate headquarters in Northbrook, IL, and its global sales and support teams with offices in South America, Europe, Asia, and throughout North America. Further, the company leverages its digital imaging expertise with two other microfilm scanning businesses: Northbrook-based ST Imaging and recently-acquired nextScan, located in Meridian, ID. For more information, please visit www.digitalcheck.com
Burroughs is a Plymouth, Michigan-based global provider of maintenance services, cash automation solutions and payment-processing image technology to financial institutions and retailers. Its services and products provide banks and commercial customers with safe, secure and prompt document and cash processing that improves operational efficiencies and payment security. With more than 100 years of history, Burroughs is recognized as the industry leader in servicing cash automation products and image-processing technology from web-enabled branch and merchant capture devices to high-speed reader/sorters in some of the largest payment-processing centers worldwide. For more information, please visit www.burroughs.com