Centerbridge Partners LP, a multi-strategy private investment firm, and Bridgeport Partners, a private investment firm, have acquired Computer Systems Inc. in an all-cash transaction valued at $1.6 billion or $58 per share.

CSI is a provider of end-to-end fintech and regtech services and services to over 2,500 customers across the globe. The deal brings a leader of innovation and customer service to Centerbridge and Bridgeport’s portfolios. CSI will expand and diversify the buyers’ offerings, transform technology to leverage the scale of the public cloud, and distribute optimized fintech and regtech services to the firms’ banking initiatives.

“Supporting high-quality companies is central to our strategy at Centerbridge, and we have a deep track record of doing so in both financial services and technology. We are excited to work with CSI, as we share a like-minded commitment to innovation for customers and satisfaction for employees,” said Jared Hendricks, senior managing director at Centerbridge and Ben Jaffe, managing director at Centerbridge. “CSI has a long, distinguished history in Paducah, Kentucky, as well as other local communities across the nation. We plan to continue our commitment and investment in these communities to further foster the CSI legacy.”