EISI Acquires Financial Profiles; NaviPlan(R) and Profiles+(TM) Product Lines to Be Offered Through One Corporate Group.WINNIPEG, Manitoba -- Emerging Information Systems Inc. (EISI EISI Emerging Information Systems Inc. (Winnipeg, Manitoba, Canada) EISI Endeavor Information System, Inc ), developer of NaviPlan financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against software, today announced its acquisition of Financial Profiles, Inc., from The Hanover Insurance Hanover Insurance (formerly NASDAQ: HINS) based in Worcester, Massachusetts is one of the oldest continuous businesses in the United States, still operating within its original industry. Group, Inc. (NYSE NYSE See: New York Stock Exchange :THG THG Tom's Hardware Guide THG Tetrahydrogestrinone THG Third Harmonic Generation (laser physics) THG The Humble Guys (hacker group) THG The Holmes Group ). Effective today, EISI, through its wholly-owned subsidiary, Emerging Information Systems (USA), Inc., has acquired all the stock of Financial Profiles, Inc. and, as such, has assumed full control of Financial Profiles' operations and underlying technology, including the Profiles+(TM) product line, the Matrix integration/consolidation framework, and the Wealth Insight platform. EISI, as the parent company, will continue to develop and fully support both the NaviPlan and Profiles+ product lines, maintaining operations in Winnipeg, Manitoba and Carlsbad, California Carlsbad is a coastal resort-town in northern San Diego County, California. According to the state Department of Finance, the city had a total population of 90,271 in 2003. . "As a united entity, we will draw upon our unrivaled scale and resources to offer financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firms broader wealth management solutions and stronger support programs," said Dr. Mark Evans, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , EISI. "Clients of both product lines will benefit from our combined expertise." The acquisition brings together the industry's two leading financial planning software developers. The corporate group has approximately 300 employees and 120,000 users -- making it, by far, the largest vendor in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . According to the Celent's May 2006 report, Ranking the Vendors of Wealth Management Technology, EISI and Financial Profiles are among the top four vendors in the 'advanced technology', 'customer base', and 'depth of client services' categories. "This is a winning combination for EISI, Financial Profiles, and our customers," said Jim McClafferty, President and CEO, Financial Profiles. He added, "Financial service firms as well as their advisors and brokers will now be able to leverage the industry's best planning and advice solutions from one platform. Both companies bring state-of-the-art technology and a keen understanding of the marketplace to this relationship. We have unique strengths but we share a client-centric approach to developing solutions." Details on the terms and conditions of the transaction were not released. About Financial Profiles Founded in 1969, Financial Profiles, Inc. develops fully-integrated financial planning software, Internet services, and training and support programs for more than 50,000 financial professionals. The company's employees are located in Carlsbad, California. Prior to the acquisition, Financial Profiles was a subsidiary of The Hanover Insurance Group, Inc., a Worcester, Massachusetts-based holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester, Citizens Insurance Company of America, headquartered in Howell, Michigan, and their affiliates. For more information on Financial Profiles and its products, visit www.profiles.com. About EISI Founded in 1990, EISI is a privately-held company that develops NaviPlan financial planning software solutions for more than 70,000 licensed financial professionals in Canada and the USA. The company's employees are primarily located in Winnipeg, MB, Canada. For more information on EISI and NaviPlan, visit www.naviplan.com. |
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