Vista Equity Partners has agreed to acquire Canadian fintech software provider D+H with the intention of merging it with retail and financial services software provider Misys. The merged entity will sport $2.2 billion in revenue, close to 10,000 employees, and more than 9,000 customers across 130 countries. It will represent 48 of the top 50 banks.
In a release Vista said D+H’s North American base and strength in payments, lending and retail banking solutions are strong complements to Misys’ global footprint and strengths in capital markets, corporate banking, and global retail banking.
“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 CEO Gerrard Schmid said. “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.”
“The combination of our two companies creates significant opportunity for our customers, our employees and our partners,” CEO Misys CEO Nadeem Syed added. “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 organizations 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.”
“D+H is an outstanding company with impressive talent and deep experience providing technology solutions to financial institutions worldwide,” Vista Equity Partners cofounder and president Brian N. Sheth said. “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 deal for what will be a privately held company should close by the end of the this year’s third quarter.