Mon, Dec 22, 2014
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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  5. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und