Business Services Industry

Lane Berry Advises John H. Harland Company on its Acquisition of Liberty Enterprises, Inc

Business Wire, April 6, 2005

BOSTON -- Lane, Berry & Co. International, LLC announced today that it served as financial advisor to John H. Harland Company (NYSE: JH) with respect to its acquisition of Liberty Enterprises, Inc.

The two companies announced yesterday that Harland signed a definitive agreement to acquire Liberty. The acquisition is subject to regulatory approval and other closing conditions, and is expected to close in late May or early June.

Harland will pay $160 million in a cash-for-stock purchase under a 338(h)(10) tax election. Harland expects the acquisition to be immediately accretive to earnings. Further information about the acquisition's projected economics can be found in Harland's press release dated April 5, 2005 at www.harland.net .

"There is a complementary fit between Harland and Liberty as both companies will be able to expand their core check printing offerings to include other products and services that add value for their customers," said James E. Bunn, Director of Lane Berry and head of the firm's Transaction Processing and Financial Services Technology practice.

Robert M. Berry, President of Lane Berry added, "Lane Berry is committed to assisting our clients meet their strategic growth initiatives by leveraging extensive industry knowledge with hands-on, transactional engagement by our experienced bankers. Jim Bunn's knowledge of transaction processing, the industry dynamics and key players in this sector, and his industry-specific mergers and acquisition experience were critical to driving a successful transaction. We are gratified that the Lane Berry team of professionals delivered such value."

About Harland

Atlanta-based John H. Harland Company (NYSE: JH) (www.harland.net) is a leading provider of software and printed products to the financial and educational markets. Harland Financial Solutions, Inc. (http://www.harlandfinancialsolutions.com), a wholly owned subsidiary, supplies software and services, including customer relationship management, deposit and loan origination, core systems and mortgage services to thousands of financial institutions of all sizes. Harland's printed products offerings include checks, analytical services, direct marketing and financial forms. Scantron Corporation (http://www.scantron.com), a wholly owned subsidiary, is a leading provider of both paper and electronic-based services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.

About Liberty Enterprises

Liberty, founded in 1985, is the credit union movement's leading provider of payment systems, marketing services and technology solutions. A family- and employee-owned company, Liberty provides financial institutions with card services, checks, financial supplies, database marketing and creative services. Cavion Plus, formed through the merger of Liberty Internet Services and CUNA Network Services, provides Website, e-transaction, connectivity and security services to more than 1,300 credit unions. MyDAS, Inc. offers award-winning training, education and marketing programs to financial institutions. Liberty Enterprises partners with more than 5,400 credit unions. More information about Liberty is available at www.libertysite.com.

About Lane Berry

Lane, Berry & Co. International, LLC, with offices in Boston and New York City, provides investment banking services to corporations, their Boards and Special Committees of Boards on matters relating to mergers, acquisitions, divestitures, debt and equity financings, debt restructurings, recapitalizations and corporate governance issues. Lane Berry offers sophisticated, objective advice and transaction execution based upon the extensive experience of its senior investment bankers. For more information about Lane Berry's services, transactions and recruitment opportunities visit our website, www.laneberry.com.

Lane, Berry & Co. International, LLC
Jim Bunn                                    Jon Steele
Director                                    Vice President
jbunn@laneberry.com                         jsteele@laneberry.com
617.624.7011                                617.624.7020
COPYRIGHT 2005 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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