Sun, Apr 26, 2015
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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner