Vista Equity Partners announced it will acquire Canadian-based D+H, and merge it with UK-based Misys, creating a diversified fintech leader with a global footprint and about $2.2 billion in revenues.
D+H’s portfolio includes a broad set of financial software solutions. Misys specializes in software leader for retail and corporate banking, lending, treasury and capital markets, investment management and enterprise risk. The privately-held combined organization will create a diversified fintech market leader, with a global footprint and a broadest set of financial software solutions with around 10,000 employees and 9,000-plus customers across 130 countries, including 48 of the top 50 banks.
Commenting on the transaction D+H CEO Gerrard Schmid 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.”
Fintech provider D+H totals more than 5,500 employees with solutions used by more than 8,000 banks, credit unions, community banks, specialty lenders, governments and corporations. Its core solutions reportedly power more than $186 billion in assets across about 575 financial institutions.
“The combination of our two companies creates significant opportunity for our customers, our employees and our partners,” Nadeem Syed, CEO of Misys said. “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.”
“We are thrilled by the prospect of combining these two leaders in the fintech industry,” Brian N. Sheth, co-founder and president of Vista Equity Partners, said. “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.”
A published statement reported the transaction remains subject to customary closing conditions, including receipt of all regulatory approvals, and anticipates closing prior to the end of the third calendar quarter 2017.
