GTCR to sell payments solutions company Fundtech to D+H for $1.25 bln
Canadian financial technology business D+H Corp (TSX: DH) has agreed to acquire Fundtech Ltd for about US$1.25 billion in cash. Based in New York, Fundtech is a provider of transaction banking software and services to financial institutions and corporations. The seller in the deal is U.S. private equity firm GTCR, which in November 2011 bought Fundtech for about US$390 million. In a statement, the Toronto-based D+H said the acquisition will solidify its position in the financial technology market with an expansion into payments and create new opportunities in the United States and other countries. The deal is expected to close in the second quarter of 2015.
31 March 2015•4 mins read
