News

PE firm proposes to merge major banking software providers

March 14, 2017

Vista Equity Partners has signed a definitive agreement to acquire D+H, the largest Canada-based provider of software solutions for lending, payments and financial services. Vista plans merge the company with Misys, a provider of software for retail and corporate banking, lending, treasury and capital markets, investment management and enterprise risk.

This combination will create a diversified fitech provider with a global footprint and the broadest set of financial software solutions available on the market, according to a press release. The combined company will boast approximately $2.2 billion in revenues, approximately 10,000 employees and more than 9,000 customers in 130 countries.

"D+H is an outstanding company with impressive talent and deep experience providing technology solutions to financial institutions worldwide," Brian N. Sheth, co-founder and president of Vista Equity Partners, said in the release. "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 combined company will be privately held. The transaction is expected to close before the end of Q3, the release said.