Sun, Mar 26, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Linedata acquires CapitalStream, adds to North American presence

Thursday, February 14, 2013
Opalesque Industry Update: Linedata has agreed to acquire HCL Technologies' CapitalStream business and enter into a strategic partnership with HCL Technologies Ltd. The transaction is expected to close before the end of Q1 2013.

Linedata is one of the leading providers of software and services to the credit and financing industries in Europe and Africa. Linedata has also developed a significant presence in North America in the asset management area.

Acquisition of CapitalStream

CapitalStream is a market leading software platform that offers a sophisticated suite of credit lifecycle management solutions to the financial services industry. It has a fast-growing client portfolio of prestigious banking and other financial institutions in North America. Revenues for their last financial year ending June 2012, expressed in U.S. GAAP, amounted to $ 30 million. The Company employs approximately hundred employees in the USA (Seattle, WA & Irvine, CA)

As part of the acquisition, Linedata would acquire all the assets and associated liabilities for a sum of $45 million. The transaction will be financed by an extension of an existing bank loan with a pool of banks. Following the transaction, debt ratios will remain at a reasonable level and the leverage ratio (net debt post-closing / consolidated EBITDA) will be less than 2.

This combination will enable Linedata to offer a uniquely powerful and comprehensive set of applications for North America and the global marketplace.

HCL Technologies, the long standing owner of CapitalStream, is a leading global technology and IT services company. This agreement reflects HCL’s core strategy of joining hands with product companies to offer transformational services to its clients. Through this partnership, Linedata will be able to reinforce its services offering to support CapitalStream clients in all of their major IT projects.

Anvaraly Jiva, Founder and CEO of Linedata, says: "I am very pleased to welcome this highly talented team and prestigious client base to Linedata. This acquisition will extend our ability to provide end-to-end solutions to the credit and finance industry globally. The partnership with HCL will substantially improve our ability to engage in very large projects with our clients. Linedata’s presence in North America, a key to our global growth, will be significantly expanded”.

Linedata

Press release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund liquidations in 2016 surpass 2009 levels, new launches decline[more]

    Benedicte Gravrand, Opalesque Geneva: Even as the hedge fund industry's total assets exceeded the $3tln milestone last year, hedge fund liquidations increased. So much so that 2016 had the highest number of liquidations since 2008, claims the latest HFR Market Microstructure Report, re

  2. Hedge funds find no joy in macro as returns lag Trump rally[more]

    From Gulfnews.com: In 2017, macro hedge funds were expected to shine. So far? Not so much. It's been a far from impressive first two months for funds that trade around macroeconomic events. Discretionary funds rose just 0.3 per cent through February, according to Hedge Fund Research Inc., while the

  3. Strategies - Billionaire investor Marc Lasry shares how he's playing markets right now, Classic models are failing FX hedge funds desperate for return[more]

    Billionaire investor Marc Lasry shares how he's playing markets right now From CNBC.com: Buy on the prospect of deregulation. Sell on the enactment of deregulation. That's the strategy that billionaire investor Marc Lasry is implementing, according to an interview with CNBC in Las Vegas

  4. Opalesque Exclusive: Aberdeen makes the case for the lower mid-market[more]

    Bailey McCann, Opalesque New York: Aberdeen Asset Management has released a new paper focused on lower mid-market private equity. According to the paper, this segment of the private equity market is gaining popularity with private equity investors that are looking for multiple expansion and less

  5. Hedge funds await outcome of French elections, feel pinch on lower oil prices & weak dollar[more]

    Komfie Manalo, Opalesque Asia: Hedge funds felt the pinch of lower oil prices and weak U.S. dollar as the Lyxor Hedge Fund Index was marginally down as of the week ending 14 March, Lyxor Asset Management said in its Weekly Briefing. The Lyxor He