Woodbury-based Cardworks Servicing, which provides operational servicing and support functions for credit card and installment loan product, has acquired Dataline Systems.

With the acquisition of Dataline, a Florida-based provider of business process outsourcing and financial services operations support, CardWorks aims to expand services for lenders and asset managers.

Terms of the deal, effective Jan. 1, were not disclosed. With the acquisition, Dataline is a wholly owned subsidiary of Cardworks.

Dan Pillemer, CardWork president and CEO, said in a news release about the acquisition that the services of the two firms “are highly complementary, run on values inspired by their founders and, importantly, have similar people-centric cultures focused on doing the right thing while putting customers first.”

“Dataline has unique capabilities in payment disbursement services, data reporting and analytics, and business process automation, each of which are additive to our existing CWS capabilities,” Matt Berman, head of Cardworks’ Servicing Business, said in the statement. “As such, the acquisition will further strengthen our end-to-end credit card and installment loan portfolio management and servicing offerings for banks, credit unions, non-bank lenders, and asset managers.”

“For nearly 37 years, Dataline has partnered with financial services companies to design, develop, and implement customized business process outsourcing and financial services operations support solutions that are enabled by optimized data management, Collin York, the founder of Dataline, said in the statement. “Our team could not be more excited about becoming part of the CardWorks family, where we see energy, excitement, enthusiasm, and a team that is committed to doing the right thing.”

Now, CardWorks gives Dataline “a greater breadth of resources, capabilities, and operational support to take their platform to an even higher level of client service,” according to the news release.

And Dataline will be positioned  ”to grow its core business with existing clients, CWS clients and new clients, generating new opportunities,” according to CardWorks.

CardWorks is now exploring “inorganic growth opportunities,” according to the news release.

“Our experience through cycles, disciplined approach to growth, and compliance-focused culture have led to the fortunate position of having a strong balance sheet and capital levels,” Pillemer said.

“We are excited to explore acquisitions of companies, assets, or capabilities that expand CardWorks’ businesses and are in line with our vision for the future, particularly if we are lucky enough to find teams as talented as the Dataline team,” he added.