Published: Tue, March 14, 2017
Business | By Sandy Mccarthy

Vista to acquire D+H for fintech merger with Misys

Vista to acquire D+H for fintech merger with Misys

Misys is merging with Canadian fintech rival DH Corp.

The transaction, if successful, will create a fintech company with almost $3-billion in revenues, 10,000 employees and customers across 130 countries (including 48 out of the top 50 banks), the firms said in a joint release.

Vista will acquire all the outstanding shares of the Toronto-based chequemaker turned financial-technology firm for $25.50 per share in cash and the assumption of DH Corp.'s debt obligations, including convertible debt.

The deal brings the total value of private equity transactions involving Canadian targets this year to about $3.5 billion, slightly above the $3.1 billion announced during the same period in 2016, according to data compiled by Bloomberg. If a deal is completed, Vista plans to merge DH Corp. with Misys Ltd., which it bought in 2012, the people said, asking not to be identified because the information is private.

Colton Haynes and Jeff Leatham are engaged
Wedding bells are in the air for Colton Hayes and Jeff Leatham . "I SAID YES! " Haynes captioned the photo . This is gonna be the best thing ever, and you have to call me to tell me how it worked out".

Birmingham, Liverpool interested in hosting 2022 Commonwealth Games
But ever since it won the games as the sole bidder in September 2015, Durban missed deadlines to provide the financial guarantees. Mbalula said of South Africa's concerns over hosting the event: "We gave it our best shot but we can't go beyond".

Ireland's Joe Schmidt concedes Six Nations title after defeat in Wales
Ireland might have been about to score without Henshaw's arrival, and a conversion would have put them ahead with 10 minutes left. Wales came back strongly in the second-half and thanks partly to a try from Shona Powerll-Hughes they got back on level terms.

The combination makes a lot of strategic sense for Vista, which has seen its plans to float Misys on the stock exchange fall apart as the company's valuation crashed in the face of Brexit scares and volatile trading conditions. It has more than 5,500 employees worldwide, with revenue of nearly C$1.7 billion in 2016. It completed a series of acquisitions to that end, including a $1.25 billion purchase of payment-technology company Fundtech 2015. A report last week in The Financial Times said that Misys was exploring a potential IPO in NY.

The completion of the deal is subject to court approval and the approval DH's shareholders.

After the deal closes, Vista wants to merge DH with Misys, a United Kingdom -based software company focused on the global banking industry.

Like this: