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Misys to merge with Canadian fintech rival
13 March 2017
Deal values Canadian financial services provider DH at just over $2bn.
Misys is merging with Canadian fintech rival DH Corp.
Vista, the US private equity group that owns Misys,
announced plans on Monday to acquire the Toronto-listed
The deal values the Canadian financial services provider at
just over $2bn.
It also comes months after Vista scrapped plans to float
Misys on the London Stock Exchange amid the market volatility
DH said in December that it had received expressions of
interest from unidentified parties.
Earlier in its history DH printed cheques for all of
Canada's major banks under the name Davis + Henderson.
It has since evolved into a more diverse company focused on
the financial services industry.
Misys technology covers lending, treasury, capital markets
and investment management.
Both firms said on Monday that the merger would create "one
of the largest fintech companies in the world and market leader
in corporate banking."
Nadeem Syed, Misys chief executive, added: "By coming
together, we have the opportunity to create a global fintech
powerhouse, positioning us to lead the corporate banking
software space, accelerate our cloud-based offerings, and
expand our footprint in North America.