LITTLE FALLS, N.J. – BISYS has acquired the Toner Organization, an Exton, Pennsylvania-based insurance brokerage firm that markets to credit unions. "This acquisition immediately expands our market presence and potential in the Mid-Atlantic region," said BISYS Chairman/CEO Lynn Mangum. As of March 31, 2001, revenues generated by BISYS Insurance and Education Services Group have increased 82%. With its insurance services division generating BISYS' highest growth rate, Toner becomes its fourth insurance-related acquisition in the past year. Other acquisitions include Ascensus Insurance Services; The Advanced Markets; and The Insurance Exchange of America. Toner currently supports more than 7,000 insurance producers. Terms of the transaction were not disclosed.
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