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LA Pro Announces the Company’s Acquisition by Zoot Enterprises

Current services to continue with future plans for a joint offering

WILLIAMSBURG, Virg. – January 11, 2010
— LA Pro, a well known purveyor of loan servicing software announced today that it has been acquired by Bozeman, Mont.-based Zoot Enterprises, a technology company that provides advanced instant credit decisioning and loan origination solutions to the financial services industry.

“The merging of our company with Zoot has been a smooth transition. LA Pro will continue providing the same high quality service and software solutions to our target market,” said Tommy Turner, managing director of LA Pro. “We’re looking forward to combining our industry expertise and technology capabilities to develop new product offerings.”    

LA Pro is a wholly owned subsidiary of Zoot Enterprises, but will continue selling software solutions under its current name. While enhancements will be made to the marketing and branding of the company, clients and staff will not be adversely impacted by the purchase.

LA Pro loan servicing software can be customized to meet specific business needs, enabling lenders to manage a mixture of portfolios from traditional lending to multi-currency corporate financing. The software supports detailed billing, daily accruals and incisive management reports. Additionally, it can be easily integrated with existing systems such as general ledger accounting systems, core processing systems and documentation and origination systems.

The companies are planning a software solution that combines their joint capabilities sometime in the future. The solution will be based on market and client needs.

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About LA Pro

Williamsburg, Virg.-based LA Pro has been providing software solutions to the lending industry since 1984. LA Pro loan servicing software is the most advanced system built to handle a wide variety of portfolios from traditional lending to multi-currency corporate financing. The company’s extensive client base includes credit unions, CUSOs, alternative lenders, banks, Fortune 100 companies, small companies, finance companies, development organizations (private and public) and federal, state and local government entities (foreign and domestic). Visit http://www.laproiq.com or call 800.772.3733 ext. 741 (toll-free for North America) for more information.

About Zoot

Bozeman, Mont.-based Zoot provides comprehensive credit decisioning, loan origination and credit risk management solutions to enable clients’ unique business objectives, leading to long-term relationships with top U.S. banks. Zoot’s rapid, high-volume processing environment has the capacity to process billions of transactions per year. Visit http://www.zootweb.com or call 406.556.7555 for more information.

CONTACT:  

Karen Gordon                                                
Public Relations for Zoot Enterprises
406.556.8977