Triumph Financial in Dallas created a new data-focused business segment after buying a technology company.
The $5.9 billion-asset company bought Isometric Technologies, or ISO, during the fourth quarter for an undisclosed amount. ISO provides service and performance scoring and benchmarking capabilities to the freight industry.
As a result, Triumph created a new “Intelligence” segment, transferring certain payments employees to the group. The company said it believes the base run-rate for noninterest expense in the new segment for the first quarter would be about $2.5 million; ISO’s addition represents about $1.4 million of the total.
“We are prepared to grow revenue with the acquisition of ISO and other products on which we are working,” the company said in a press release. “It may seem early to some, but it is how I think about the enterprise, and I think investors deserve to know about this part of our roadmap.”