a technology solutions credit union service organization (CUSO) focused on small to mid-sized credit unions, has been acquired by Baltimore, Maryland-based Think|Stack.
Think|Stack is a managed services CUSO specializing in cybersecurity and cloud solutions. Emergifi was acquired by Think|Stack in exchange for equity and one board seat for Corporate Central Credit Union. Additional terms of the deal were not disclosed.
Prior to the acquisition, Emergifi was founded by, and wholly owned by, Corporate Central Credit Union (Corporate Central), a federally insured financial cooperative, based in Muskego.
“This acquisition will allow Think|Stack to serve a larger portion of the credit union marketplace and will make us a well-rounded technology services CUSO able to serve small and large credit unions alike,” said Chris Sachse,
All of Emergifi’s employees will be absorbed by Think|Stack in the acquisition, increasing Think|Stack’s team and providing Emergifi’s current clients access to more industry experts. Gregg Tushaus,
currently the president of Emergifi and chief technology and strategy officer, will become a member of the Think|Stack board of directors.
“Our merger with Think|Stack forms a stronger technology services company offering more comprehensive technology services and improves our competitive position with a deeper team,” said Tushaus. “With our packaged subscription service well-suited for small- to medium- size credit unions, and Think|Stack’s comprehensive cloud and cybersecurity services, together we can serve credit unions of any size.”
According to a press release, the acquisition will allow Think|Stack to expand its service capabilities to support smaller credit unions that don’t have the in-house expertise to oversee digital transformation journeys critical to improving data protection and digital experiences for members.