Black Dragon's Louis Hernandez Jr. Announces Acquisition of SRMS into ASI Group to Further Expand into the US Market

New, Combined US-based Company will Launch with 150 Clients

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Mar 11, 2019, 09:00 ET

MIAMI, March 11, 2019 /PRNewswire/ -- Louis Hernandez Jr. of Black Dragon Capital, a growth-oriented private equity fund focused on technology investment opportunities in industries disrupted by digitization, today announced the acquisition of SRMS Technologies, a Pennsylvania-based provider of specialized managed services to financial institutions, and the subsequent merger with ASI Group, one of its portfolio companies and a leading cloud-based solutions provider for the financial services industry. The combined company, which will have headquarters in the United States, will continue its expansion in the Americas with nearly 150 clients evenly distributed between Latin America and the United States.

"Market demands in the Americas have created an extraordinary opportunity for technology companies and we are poised to address it by leveraging ASI and SRMS' unique capabilities," said Hernandez, founder, managing director and CEO at Black Dragon Capital and an ASI Group board member. "Black Dragon Capital will continue investing to allow our portfolio companies to expand and grow while supporting them through our unique capabilities," Hernandez added.

"ASI's products and services will be ideally complemented by SRMS' capabilities to produce a unique and differentiated value proposition that will benefit the financial services community in the Americas as they continue searching for the necessary technology required to maintain competitiveness and relevance," said Hernando Torres, president and CEO at ASI Group.

The combined company aspires to grow rapidly by leveraging cross-selling opportunities that will naturally arise as new and unique solutions, including both company´s products and services, will address specific unaddressed needs in the financial sector. "We know the financial sector requires new and creative solutions in many areas. By combining forces from two leaders, we will gain additional traction in the market while we continue defining new and unique strategies to help the financial institution achieve their goals," said Hernandez.

SRMS provides solutions and managed services to 85 financial institutions throughout the United States and has rightfully earned customer respect and loyalty by consistently providing the highest quality products and services delivered by experienced and certified staff.

ASI Group, with U.S. headquarters in Miami Beach, Fla. has operations in 14 countries, and has more than 80 clients with a total of $40 billion assets processed. The company's open solutions have helped financial institutions achieve higher customer satisfaction and increased profitability while ensuring strict compliance with regulations in multiple countries. The open-architecture microservices-based platform provides applications in enterprise core processing, omni-digital channels, collections, loan origination and analytics, all of which are offered on-premise as well as in the cloud through software-as-a-service (SaaS) delivery models.

Boilerplates – Black Dragon and its Portfolio

Black Dragon Capital is a private equity fund focused on growth investments, particularly in digital commerce, financial services and media technology. Black Dragon's team of industry professionals have significant operational experience, strong financial backgrounds, proven track records of success and investment experience, ranging from startups to billion-dollar organizations in both public and private vehicles. The company leverages its network expertise and deep domain knowledge to assist in accelerating growth and profits in selected markets – all while working closely with entrepreneurs. Learn more at blackdragoncap.com.

About ASI Group
Founded in 1985, ASI Group is the most experienced company creating and implementing technological solutions for financial institutions in Latin America and the United States. For 33 years it has been an ally for the financial sector, dedicated to research, innovation and the use of technology to increase the profitability of its customers, and achieve the satisfaction of their consumers. Recognized for its competitiveness, ASI Group offers solutions for electronic banking, mobile banking, collections systems, business intelligence and regulation, international regulation, risk prevention, remittances, credit card core and an impressive core banking system, providing flexible solutions. Fulfilling its commitment to offer the highest quality standards in the service, ASI Group has continuously maintained the ISO 9001: 2008 Certification and the implementation of CMMI DEV best practices. For information, contact [email protected].

About SRMS Technologies
SRMS Network Technologies is a national computer services provider headquartered in South Eastern Pennsylvania. Secure, Reliable, Managed, Solutions (SRMS) was founded in 1998 and has since become an industry leader in the area of information technology. SRMS is committed to customer service and our highly experienced and certified staff set us apart from the competition. "We are committed to excellence in every way, in our work ethic, in the products and services we provide, and in our relationships with clients, employees, and partners" serves as the foundation of a company that has grown to serve over 80 clients in the US.

Media contact: Todd Aydelotte, 646-428-0644
Allison+Partners
[email protected]

SOURCE Black Dragon Capital