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MISYS AND D+H TO JOIN FORCES TO CREATE A NEW GLOBAL FINTECH LEADERPublished : 8 years ago, on
Combination will create one of the largest Fintech companies in the world and market leader in corporate banking
Today Vista Equity Partners announced that it has signed a definitive agreement to acquire D+H, the largest Canadian-based software provider of lending, payments and financial solutions and intends to merge it with Misys, the global software leader for retail and corporate banking, lending, treasury and capital markets, investment management and enterprise risk. The combination will create a diversified Fintech market leader, with a global footprint and the broadest set of financial software solutions available on the market with approximately $2.2B in revenues, around 10,000 employees and 9,000+ customers across 130 countries, including 48 of the top 50 banks.
Misys and D+H are highly complementary in terms of both software solutions and geographical footprint. With D+H’s strength in payments, lending, and retail banking solutions in North America combined with Misys’s strength in capital markets, corporate banking, and retail banking globally, the combined business will be able to serve customers all over the world with an unrivalled, broad and complete solution portfolio. The integration of these solutions will also create the broadest offering in the corporate banking space.
Commenting on the transaction Gerrard Schmid, CEO, D+H said, “By combining D+H with Misys Vista will be creating a global leader in financial technology, with a broad array of products to serve customers. D+H brings depth in North America and leadership in payments and lending; while Misys has a strong market position in Europe, Middle East, Africa and Asia and leadership capabilities in banking, capital markets, investment management and risk solutions. I believe this transaction is beneficial to our customers, shareholders and employees. We look forward to working closely with Vista and the leadership team at Misys to complete this transaction.”
D+H is a leading financial technology provider with more than 5,500 employees. Its global payments, lending and financial solutions are used by more than 8,000 banks, speciality lenders, credit unions, community banks, governments and corporations.
“The combination of our two companies creates significant opportunity for our customers, our employees and our partners,” said Nadeem Syed, CEO Misys. “By coming together, we have the opportunity to create a global Fintech powerhouse, positioning us to lead the corporate banking software space, accelerate our cloud-based offerings, and expand our footprint in North America. The complementary nature of our two organisations combined with our robust domain expertise and strong leadership means that we will be able to bring even more value to our clients through our expanded offerings.”
“We are thrilled by the prospect of combining these two leaders in the Fintech industry,” said Brian N. Sheth, Co-Founder and President of Vista Equity Partners. “D+H is an outstanding company with impressive talent and deep experience providing technology solutions to financial institutions worldwide. Over the last five years we have worked closely with the Misys management team to transform and grow its global business and this is a great next step in that process. Together, Misys and D+H have the promise to shape and lead the future of financial software.”
The combined company will be privately held. The transaction is subject to customary closing conditions, including receipt of all regulatory approvals, and is expected to close prior to the end of the third calendar quarter 2017.
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