Toronto-based D+H Corp. says it has successfully completed the $1.25 billion all-cash acquisition of Fundtech, a provider of global payments solutions to banks worldwide, from private-equity firm GTCR.
This acquisition solidifies D+H's position as a global FinTech provider and is expected to generate growth opportunities in North America; the Europe, Middle East and Africa region; and the Asia-Pacific region.
D+H now serves almost 8,000 clients, including 190 of the top 300 U.S. banks, nine of the top 10 U.S. banks and 32 of the top 50 global banks.
The merger agreement was signed and announced on March 30 and was subject to customary closing conditions, including regulatory approvals, all of which have been satisfied.