09:33 AM EDT, 04/08/2025 (MT Newswires) -- Cass Information Systems ( CASS ) said Tuesday that it signed an asset purchase agreement to sell its Telecom Expense Management & Managed Mobility Services business to Asignet USA.

Financial terms were not disclosed. Cass Information Systems ( CASS ) Chief Executive Officer Martin Resch said the sale is in line with the company's strategy of focusing its capital investments on financial exchange and information processing.

Cass Information Systems ( CASS ) expects to close the sale in Q2.

Shares were up more than 2% in early trading.