The private-equity firm Vista Equity Partners is acquiring the financial technology vendor D+H and plans to merge it with Misys, another fintech firm in its portfolio.
D+H said Monday that it has entered into a definitive agreement under which Vista will acquire all of the outstanding shares of its parent company DH Corp. for $18.96 per share in cash. Including debt, the deal is valued at $3.57 billion. It is set to close in the third quarter.
The blockbuster deal involves two of the more well-known fintech vendors. D+H, based in Toronto, provides payments, lending and regulatory compliance technology to banks. In 2014, it acquired the U.S. core systems provider Harland Clarke as it sought to further enter the American market. Misys, which is based in London, has also made several acquisitions of U.S. companies in recent years. Misys also launched a “platform-as-a-service” product in September aimed at helping banks move toward open, application programming interface-based models. Vista acquired Misys in 2012.
The combined company will have a global reach and is expected to have approximately $2.2 billion in revenues, approximately 10,000 employees and more than 9,000 customers across 130 countries, according to a press release.
“By combining D+H with Misys Vista will be creating a global leader in financial technology,” D + H Chief Executive Gerrard Schmid said in the press release. “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."