Misys and D+H – both owned by Vista Equity Partners – to merge

Combined firm, called Finastra, will be the third largest financial services technology company in the world.

Misys, a London-based company that provides technology for the financial services, and D+H, a Canadian payments and lending technology provider, have announced they will merge. The merger comes after the acquisition of D+H by Vista Equity Partners, which acquired Misys in 2012.

The new, combined, company will be called Finastra. It will have offices in 42 countries around the world and its headquarters are set to be in London. Finastra will be maintaining its North American headquarters in Toronto. The new company will be led by Nadeem Syed, previously CEO at Misys, who has 27 years of experience in the IT sector.  

According to a Finastra spokesperson, the company will be the third largest financial services technology company in the world, with 10,000 employees and counting 48 of the world’s 50 largest banks among its customers. According to the latest figures from Misys and D+H, the joint-company will have $2.1 billion in annual revenue.

Finastra will develop technology products for retail banking, transaction banking, lending, and treasury and capital markets, which will be delivered either on premise or through the cloud.

“Serving all of our customers and partners remains our top priority,” said Syed. “By coming together as Finastra we are committed to enhancing our ability to deliver market-leading products and services, and to being an even more strategic partner to our customers. We will build momentum, delivering innovative and transformational products and exceptional service. Our mission is to help our customers, whatever their size, wherever they are located.”

Robert Smith, founder, chairman and CEO of Vista Equity Partners said that the combined company is more that the sum of its parts, and that with its increased scale it will be a powerhouse in the Fintech sector.

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