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EXHIBIT 99.1
Press Release
Contact: Scott Meyerhoff
Chief Financial Officer
(770) 248-9600
THE INTERCEPT GROUP ANNOUNCES CLOSING THE
ACQUISITION OF U.S. OPERATIONS OF SLMSOFT.COM INC.
NORCROSS, GA (January 4, 2001) - The InterCept Group, Inc. (Nasdaq: ICPT), a
leading provider of fully integrated electronic products and services for
community financial institutions, announced today that it has closed the
acquisition of the U.S. core data processing, check imaging and item capture
center operations of SLMsoft.com Inc. Robertson Stephens acted as exclusive
financial advisor to InterCept in this transaction.
InterCept acquired the business for $40 million in cash (U.S. dollars) and
approximately 1.25 million shares of InterCept's common stock. A portion of the
consideration will be held in escrow for a period of time post closing.
The acquisition increases InterCept's customer base to over 1,850 and
expands their geographic presence in the Northeast, Mid-Atlantic, Midwest and
Southwest regions of the country. In addition, InterCept will have a total of 23
item/imaging centers located throughout the United States, bringing additional
products and services to the customers they serve.
John Collins, Chairman and Chief Executive Officer of InterCept, said, "We
are excited to have closed this acquisition and believe that this transaction
will enhance shareholder value, give us increased market penetration and we
believe that it will allow us to capture additional customers through geographic
expansion."
About InterCept
InterCept is a single-source provider of a broad range of technologies,
products, and services that work together to meet the electronic commerce and
operating needs of community financial institutions. InterCept's services
include electronic funds transfer, core bank processing software, check imaging,
and data communications management, as well as Internet banking products and
services through its affiliate, Netzee, Inc. For more information about
InterCept, please visit its web site at www.intercept.net or call (770) 248-
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9600.
This release contains statements which constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as amended. These
statements and other statements made by management in their conference call
concerning this transaction include all statements that are not statements of
historical fact regarding the intent, belief or expectations of InterCept and
its management with respect to, among other things: (1) whether we can achieve
the results and effects of this transaction as stated above, (2) whether we can
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successfully combine the operations we have acquired, and other operations we
may acquire, to create or continue improvements in our financial condition; (3)
(vague) trends affecting our operations, financial condition and business; (4)
our growth and operating strategies; (5) our ability to achieve our sales
objectives, including our organic growth rates; and (6) the continued and future
acceptance of and demand for our products and services by our customers. The
words "may," "will," "anticipate," "believe," "intend," "plan," "allow,"
"strategy," "expects" and similar expressions are intended to identify forward-
looking statements. Such forward-looking statements are not guarantees of future
performance, and actual results may differ materially from those projected in
the forward-looking statements as a result of risks related to the integration
of acquired assets and businesses; the assets and businesses we may acquire; our
ability to achieve, manage or maintain growth and execute our business strategy
successfully; our dependence on developing, testing and implementing enhanced
and new products and services; our ability to sell our products and services to
financial institution customers and their customers; any additional funding that
we may provide Netzee; our ability to respond to competition; the volatility
associated with "small-cap" companies; and various other factors discussed in
detail in our filings with the Securities and Exchange Commission, including the
"Risk Factors" section in our Registration Statement on Form S-3 (Registration
No. 333-94511) as declared effective by the Securities and Exchange Commission
on February 15, 2000.
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