EPL gains investment from Dedagroup
BIRMINGHAM, Ala. (3/2/15)--Italian software and information technology company Dedagroup ICT Network has made an equity investment in data processor EPL Inc., a credit union service organization.
Dedagroup generated revenue of roughly $3 billion in 2014. The 74 members of EPL's management and employee teams will continue to operate the company's day-to-day activities, the companies said.
Dedagroup NA's investment in EPL is the company's entrance into the U.S. market. It follows the 2009 formation of Dedagroup's Mexican subsidiary, Dedamex. Dedagroup serves the grocery, financial services and fashion industries.
"Our team members have dedicated themselves to setting the bar for outstanding data-processing services across the country," said Wayne Benson, EPL president/CEO. "Dedagroup's investment in our company and team represents a transformative opportunity to capture market share while continuing our commitment to serving the U.S. credit union industry at the highest levels."
EPL was founded in 1977 and, in addition to Dedagroup, remains owned by seven credit unions and the League of Southeastern Credit Unions.