GLASTONBURY, Conn., Nov. 8,  2006 — Open Solutions Inc.® (NASDAQ: OPEN), a provider of integrated enabling technologies for financial service providers in the United States, Canada and other international markets, announced it has acquired Lombard, IL-based Raddon Financial Group, Inc. (RFG). RFG provides innovative CRM, research data, insightful analysis, strategic counsel and marketing solutions to hundreds of financial institutions across the nation. Since 1983, RFG has armed financial industry decision-makers with objective data gained through its innovative research techniques and unique database resources. RFG senior managers Bob Lawhead and Bob Dye will continue to lead the company and report into Open Solutions through Ross Curtis, Open Solutions’ Group EVP. RFG founder Gary Raddon will also be remaining with the company.

Under the terms of the agreement, Open Solutions acquired RFG for $27.5 million in cash with the potential for a $5.5 million earn out.  RFG is now a wholly owned subsidiary of Open Solutions reporting into the company’s Professional Services Group and will continue to operate as a separate business unit.

“Raddon Financial Group is highly recognized in the financial services market for providing top-quality CRM, research and marketing solutions,” said Curtis. “Its innovative technology offerings are a natural extension of our own industry-focused products and services.”

Open Solutions and RFG offer a complementary suite of enabling technologies that provide financial institutions with technological tools to help them better compete and offer additional services in their marketplaces.  Both RFG and Open Solutions have common clients and integration efforts are underway to raise those numbers.

RFG CEO Bob Lawhead said, “Open Solutions and Raddon share a common dedication and commitment to the industry we serve.  We are pleased to be joining Open Solutions as a new strategic business unit and look forward to continually serving the needs of our clients and the financial services industry.”  

Chairman and CEO of Open Solutions Louis Hernandez, Jr. said, “We are constantly looking to enhance our existing suite of products and services. Our continuing strategy is to augment and round out our offerings through the acquisition of complementary businesses that we believe add value to our company, clients and to the marketplace. Raddon Financial Group is truly such a company and with this product line acquisition, Open Solutions will now be able to offer our growing client base innovative research data, insightful analysis, strategic counsel and marketing solutions to help them stay ahead in this increasingly competitive marketplace. On behalf of all of us at Open Solutions, I welcome the employees and clients of RFG to the Open Solutions family and look forward to working with them.”