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The merger of reader-sorter manufacturers, BancTec Inc. and Recognition International Inc., seems to create strange bedfellows for software competitors, but it should not have much effect on the hardware reader-sorter market.
With the merger, BancTec will get ImageVision, the imaged-based check processing software that provoked more than two years of litigation between BancTec and Advanced Financial Solutions Inc. (AFS) which created the software for Recognition.
IBM signed an agreement with Recognition about a year ago to serve as an agent for Recognition's low-end check reader-sorter machine. The machine can be equipped with many different companies' software including Broadway and Seymour and Jack Henry.
"I put out a letter to all sales representatives that said it's business as usual," said Bob Babcock, IBM's national market segment executive for community banks. "ImageVision is one of many packages...