The two computer businesses, Compushare, Inc. and Computer Business Systems, Inc. announced they signed an agreement to merge their companies to expand their ability to deliver community banking services throughout the state of Illinois in the U.S.  Compushare is a company that provides solutions for community financial institutions and CBS is a service provider working with small banks to fulfill IT needs.

The financial details of this new merger within the computer business have not yet been stated, but the merger is the result of the need for consulting companies to respond to the demand for service by under-served banking associations and banking user groups.  Banks throughout the U.S. have expressed the need to outsource service providers that can help with technology integration and compliance issues and programs as part of their IT plan.

Many regulators and compliance officials continue to raise the requirements for technology management, particularly for smaller banks and have had a difficult time finding the right level of expertise.  The merger between these two computer businesses, Compushare and CBS will bring new levels of IT services to the table.

Compushare, based in Orange County, CA has merged previously with a direct competitor, Garrison Security Services of Austin TX.  The merger with CBS marks the third in two years as the business expands.

CBS welcomes this merger, stating the demand in the Chicagoland area has grown as compliance requirements on community banks has increased, and it is excited about having additional resources to meet the demands.

According to spokespeople, this merger in the computer business has been in the works for nearly three years.  

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