BALTIMORE–Think|Stack, a managed services CUSO that offers cybersecurity and cloud solutions, said it has acquired Emergifi, a technology solutions CUSO that focuses on small- to-mid-size credit unions.
According to the organizations, the merger is an equity-based deal. Emergifi was acquired by Think|Stack in exchange for equity and one board seat for Corporate Central Credit Union.
Prior to the merger, Emergifi was founded by, and wholly owned by, Corporate Central Credit Union in Wisconsin, which serves approximately 450 credit unions as members.
“This acquisition will allow Think|Stack to serve a larger portion of the credit union marketplace and will make us a well-rounded technology services CUSO able to serve small and large credit unions alike,” shared Think|Stack CEO Chris Sachse. “We are excited to provide Emergifi’s and Think|Stack’s existing clients with additional service offerings that we each uniquely provide, and to expand our packaged solutions to reach more smaller sized credit unions.”
Chris Felton, president and CEO of Corporate Central, and board chair for Emergifi, added, “Culture and service to our members is a core value of Emergifi, which is in alignment with Think|Stack’s mantra ‘People Before Tech’. This merger with Think|Stack gives us the opportunity to provide our members with tech solutions on a larger scale to improve the digital experience and fuel innovation for our members.”
Staff to be Retained
The company said all of Emergifi’s employees will be absorbed by Think|Stack in the acquisition increasing Think|Stack’s team and providing Emergifi’s current clients access with a “deeper bench of expertise.”
Gregg Tushaus, currently the president of Emergifi and chief technology and strategy officer, will become a member of the Think|Stack board of directors.
“Our merger with Think|Stack forms a stronger technology services company offering more comprehensive technology services, and improves our competitive position with a deeper team,” said Tushaus. “With our packaged subscription service well-suited for small- to medium- size credit unions, and Think|Stack’s comprehensive cloud and cybersecurity services, together we can serve credit unions of any size.”
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