Wed, Feb 22, 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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio