Private equity-backed Doxim Inc. is buying Roler Data, which provides document-related services to the financial industry.
Roler Data, headquartered in Mississauga, Ontario, is an electronic document composition, processing, delivery and archiving service. Terms of the transaction were not disclosed.
Doxim, based in Markham, Ontario, supplies customer engagement software for the financial services industry. The business is backed by Austin, Texas, private equity firm Strattam Capital LLC, which focuses mainly on cloud and information technology businesses. The firm invests in companies with more than $10 million in revenue and an enterprise value of between $20 million and $150 million. Strattam invested in Doxim in 2014.
There have been a handful of financial services-related acquisitions recently, including Overstock.com Inc.'s (Nasdaq: OSTK) deal for financial technology business SpeedRoute, and Aquiline Capital Partners LLC's investment in financial software developer Fenergo.