D+H Expands Footprint With Acquisition Of Fundtech For $1.25 Billion

Posted by Patrick Barnard on March 31, 2015 No Comments
Categories : Residential Mortgage

In keeping with its strategy to grow through acquisition, mortgage technology provider D+H is acquiring payments solutions provider Fundtech for $1.25 billion.

The deal, which is expected the close in the second quarter, not only significantly expands D+H's international footprint, it also gives the company a suite of new solutions that complement its existing lending, payments and integrated core platforms.

As a result of the acquisition, D+H's client base will expand to more than 8,000 companies, including nine of the top 10 banks in the world and 190 of the top 300 banks in the U.S.

D+H will adjust its reported revenues for 2014 to approximately $1.45 billion and its earnings before interest and taxes to about $428 million.

In 2013, D+H acquired Harland Financial Solutions for about $1.2 billion.

‘The complexity of today's global payments infrastructure, proliferation of channels, and an increasing desire for real-time payments is driving demand for payment solutions that allow banks to streamline payment processing while providing a more sophisticated and comprehensive view of liquidity management across various currencies and geographies,’ says Gerrard Schmid, CEO of D+H, in a release.

‘The acquisition of Fundtech puts D+H at the forefront of these trends globally, providing us with a market-leading software platform with established scale in mission-critical payment technology. It also delivers capabilities that are relevant to our existing customer base in Canada and the U.S. while making D+H more relevant to global financial institutions and large U.S. banks.’

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