There will soon be a wave of financial technology carve-outs from banks, who are being pressured by regulators to divest non-banking assets, predicts Doug Bergeron (pictured), former CEO of VeriFone Systems Inc. (NYSE: PAY). To take advantage of the assets coming to market, Bergeron and Chicago private equity firm GTCR LLC, who teamed up on VeriFone, have reunited to form an ambitious company called Opus Global Holdings LLC.
Headquartered in Palo Alto, Calif., Opus plans to buy financial technology companies and expand them internationally. "The existing financial technology and payments ecosystems are rapidly evolving but remain highly fragmented with limited interoperability and little opportunity to leverage enterprise-wide data," says Bergeron. "We see an opportunity to successfully consolidate and globalize best-in-breed products for worldwide deployment while leveraging data across applications. We intend to assemble a leading, global financial technology company, and to develop a worldwide distribution network of partners, distributors and employees."