Press release from PR Newswire
DST Systems, Inc. Acquires Newkirk Products, Inc.
Monday, May 02, 2011
DST Systems, Inc. Acquires Newkirk Products, Inc.17:38 EDT Monday, May 02, 2011Acquisition bolsters communications offerings for financial services companies and managed health care providersKANSAS CITY, Mo., May 2, 2011 /PRNewswire/ -- DST Systems (NYSE: DST) announced today that it has acquired Newkirk Products, Inc. ("Newkirk"). Newkirk is an industry leader in the development and deployment of communications, education, and investment information for clients in the retirement planning, managed care, and wealth management industries. Terms of the transaction were not disclosed.Newkirk will be operated as a unit of the Output Solutions Segment and its results will be reported in that segment.For nearly 40 years, Newkirk has developed creative solutions to communication issues faced by financial institutions and professional firms focusing on 401(k), 457, 403(b), money purchase and profit sharing plans. Newkirk has operations in New York, Oregon, New Jersey and Minnesota, and will retain its brand identity."We are excited to welcome Newkirk to our corporate family," said Steve Towle, president of DST Output. "Newkirk brings proven solutions that enhance and expand our communications production capabilities, as well as DST's industry-leading retirement plan servicing and health care benefits management operations. For our clients, this will translate into additional messaging opportunities to further enhance their customer communications programs."The acquisition of Newkirk broadens the solution set available to multiple DST business units. Newkirk's innovative on-demand publishing and marketing solutions complement DST Output's breadth of transactional and digital fulfillment solutions, making it easier for companies to craft effective customer communications across print, mobile, and electronic channels. It also enables clients of DST Retirement Solutions to access a more fully integrated offering that leverages Newkirk's capabilities geared to the needs of plan sponsors and participants. These include communication and education materials, financial planning tools and plan documents.DST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST's world-class data centers provide technology infrastructure support for mutual fund companies, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, MO., and is a publicly traded company on the New York Stock Exchange.DST Output, LLC provides integrated print and electronic statement and billing output solutions to many of the country's largest financial services, communications, insurance, healthcare, and utilities companies. Last year, DST Output and its affiliates produced more than 3 billion customer communications, delivered throughout the United States, Canada and the United Kingdom via postal service, express delivery and over the Internet. We are one of the largest First-Class? mailers in the U.S. one of the world's largest inkjet systems printers and transactional mailers. DST Output is a wholly-owned subsidiary of DST Systems Inc. For more information, visit www.dstoutput.com.DST Retirement Solutions, LLC offers one of the broadest arrays of high-value retirement outsourcing solutions for financial organizations distributing retirement investment products and serving their customers' retirement needs. Financial service companies, such as mutual funds, banks, insurance companies and third-party administrators, benefit from our flexible service model that utilizes an end-to-end technology solution and provides support for financial intermediaries. Servicing 4.5 million participants, DST Retirement Solutions supports any plan size and investment vehicle. DST Retirement Solutions is a wholly owned subsidiary of DST Systems, Inc.Newkirk Products, Inc. and its subsidiary companies are leading edge defined-contribution plan communication providers. For nearly 40 years, Newkirk has developed creative solutions to communication issues faced by financial institutions and professional firms focusing on 401(k), 457, 403(b), money purchase, and profit sharing plans.SOURCE DST Systems, Inc.For further information: Jill Patton of DST Media Relations, +1-816-843-9087, email@example.com