Misys and D+H to create the world’s third largest Fintech company, Finastra
- Transaction Banking , Banking , M&A Deals
- 14.06.2017 11:30 am
Today Misys and D+H have joined forces to create a diversified global financial software provider, unmatched in terms of depth and breadth of solutions. Operating under the new company name Finastra (www.finastra.com), the combination will create the third largest financial services technology company in the world. The company has approximately 10,000 employees and over 9,000 customers across 130 countries, including 48 of the top 50 banks globally. This follows the acquisition of D+H by Vista Equity Partners, which already owns Misys, creating a merger of two highly complementary financial technology providers.
Finastra will be led by Nadeem Syed in the role of Chief Executive Officer. Mr. Syed was previously CEO of Misys and has over 27 years of experience leading global technology companies through transformation and growth. The company has U.S. $2.1 billion* in revenues and has offices in 42 countries around the world. It will be headquartered in London, UK, maintaining North American headquarters in Toronto, Canada.
Finastra offers the broadest set of retail banking, transaction banking, lending, and treasury and capital markets software capabilities available in the world. The company’s open architecture and approach enable financial institutions to harness the power of software ecosystems and will be delivered on premises, hosted or via the cloud. With the increased scale and geographic reach, Finastra will be able to serve customers better, regardless of their size or geographic location – from global banks, to community banks, credit unions, and corporations. Using the company’s secure and reliable solutions, customers will be empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to deliver a superior customer experience, both now and in the future.
Having long pursued a progressive vision of innovation within both businesses, Finastra will strive to further unlock the potential of people and businesses by executing the product strategy of ‘Protect, Extend and Innovate’. This includes protecting our customers’ investments in all of our solutions; extending the value of our solutions by integrating new products and services; and innovating to create the best-in-class solutions. Finastra will work in partnership to help customers transform their business, and become more agile, innovative, and resilient to better meet their evolving needs.
“Serving all of our customers and partners remains our top priority. 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,” said Mr. Syed.
"We firmly believe that Finastra is greater than the sum of its parts. The combination of scale, efficiency, and market leading service and technology will create a powerhouse in the Fintech sector and uniquely position the company to meet the demands of its global customers and their clients," said Robert Smith, Founder, Chairman and CEO of Vista Equity Partners.
Finastra will be privately held.
*Revenues are on a trailing 12 months pro forma basis.