Fintech providers Misys and D+H to merge 15 June 2017London Reporter: Drew Nicol
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Technology providers Misys and D+H are joining forces to bring their combined fintech power to bear as a single global financial software provider.
The new company, known as Finastra, will have operations in 130 countries and serve 48 of the top 50 banks globally.
Finastra will be led by Nadeem Syed as CEO. Syed was previously CEO of Misys and has more than 27 years of experience technology companies through transformation and growth.
The merger 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 promises to offer a broad set of retail banking, transaction banking, lending, and treasury and capital markets software capabilities.
Syed said: “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.”
Robert Smith, founder, chair and CEO of Vista Equity Partners, added: "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.”
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