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eGistics Acquires Archive Provider Virtual Image Technology, Inc.
12/18/2007
DALLAS, December 18, 2007 – eGistics, Inc., a leading provider of hosted image and data archive, management and delivery services, announced today that it has acquired Virtual Image Technology, Inc., an online archive provider based in Fort Mill, SC. The company serves prominent healthcare, financial services, utility, retail and commercial organizations in the northeast and southeast United States. For eGistics, this acquisition extends its product offerings in key vertical segments and strengthens its position in the hosted image and data archive market. The terms of the acquisition were not disclosed.
Incorporated in 1975 as a traditional micrographics services provider, Virtual Image Technology has rapidly expanded its online archive customer base in recent years. Called VITAL Access, the company’s online archive is a browser-based service, hosted by Virtual Image Technology that supports scanned documents and report information and provides efficient image and data retrieval via an internet or extranet connection. VITAL Access users will be migrated onto eGistics’ archive platform over the next few months and a number of Charlotte-based employees supporting the platform will join eGistics.
“There are strong synergies between Virtual Image Technology’s business approach and products and those of eGistics,” said eGistics CEO Bob Lund. “We’re extremely pleased to welcome Virtual Image Technology’s customers to eGistics. Adding our superior technology platform, robust workflow and unique domain expertise to Virtual Image Technology’s online offering will help these users realize even greater business benefits. This acquisition also will enhance our services capabilities across our target vertical markets and puts us in an even stronger position to compete in the hosted archive space. Vital has proven customer relationships in claims management for healthcare and credit card processing, which coincides with our PCI certification”.
The deal closed on December 7, 2007.
As part of the transaction, eGistics sold the data capture and communications output management business lines of Virtual Image Technology to Document Systems, Inc. (DSI), based in Columbia, SC. More information on DSI can be found at www.documentsys.com.
eGistics AcquiresVirtual Image Technology, Inc. / Page2
About Virtual Image Technology, Inc.
Headquartered in Fort Mill, SC, Virtual Image Technology was incorporated in 1975 asMicro View, Inc. and began as a traditional micrographics service provider, with officesin multiple locations supplying all markets with COM and film processingservices and supplies. VITAL Access is VirtualImage Technology’s online imagearchive forscanned documents and report data.
About eGistics, Inc.
eGistics pioneered the use of on-demand image and data archive, management and delivery services in the financial services marketplace. Today, itsInfiniteDigitalArchitecture (IDA) archives tens of billions of images and supports mission-criticalpayments applications for the world’s leadingfinancial services companies. Through itson-demand business model, eGistics has consistently delivered significantbusinessbenefits for payments applications such as retail and wholesale receivables processing, check processing/Check 21, medical payments processing, and records management. Formore information about eGistics visit www.egisticsinc.com or call 214-256-4600.
“eGistics” is a registered trademark ofeGistics, Inc. issued by the United States Patent and Trademark Office.
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