Brentwood software developer Ncontracts has bought a Charlotte peer that helps banks and other lenders comply with fair lending regulations, rounding out the local firm’s suite of risk management services.
Terms of Ncontracts’ deal for Trupoint Partners are not being disclosed. The North Carolina company is home to 23 people and is now a division of NContracts run by Trey Sullivan, who had been its CEO. Ten-year-old Trupoint brings to Ncontracts a client base of about 500 institutions, which grows the company’s overall customer list to about 1,250.
“This acquisition is the natural progression of Ncontracts’ strategic growth plan,” said CEO Michael Berman, whose venture started life focused on vendor management and now employs about 140 people, including 25 developers in Nashville. “Trupoint enables us to provide a unified risk management solution and best-in-class service to help financial institutions reduce risk, improve compliance, and control costs.”