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Alltel Buys Xpede Mortgage Technology.(Brief Article)
Alltel has announced the acquisition of Xpede's Financial Relationship Management (FRM) technology assets along with 30 of the firm's employees. Alltel will integrate the FRM technology into its own customer relationship management and Internet banking offerings. Terms of the deal have not been disclosed.
It is unclear whether Xpede will continue to develop technology or will cease to exist as an independent entity. Alltel said it only purchased the FRM technology and retained 30 employees and could not comment on the condition of the company or its remaining employees. No one at Xpede could be reached for comment. All visitors to the Xpede website are being redirected to Alltel's site.
A spokesman for Alltel said that the company was very pleased to have the new personnel. While he declined to single out any key management players gained through the deal, he said that the group had a thorough understanding of the business and the opportunities that the Internet offers for FRM.
Rob Lee, executive vice president at Alltell, said last week that Xpede's FRM offerings would enable Alltel to provide banks with a universal offering. With the new technology, Alltel hopes to help its customers enhance their sales capabilities by giving them the ...
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Source: HighBeam Research, Alltel Buys Xpede Mortgage Technology.(Brief Article)