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Vista Equity Partners, the private equity fund specialising in software acquisitions has agreed to acquire DH Corp for C$4.8bn, including debt, in order to merge the business with British banking software developer Misys.
The Financial Times reported that Vista/Misys was battling Advent for DH last week and reported overnight that it had won the race.
Speculation around the future of British banking software developer Misys has been rife since it scrapped plans to float in London last year with a Nasdaq listing or a reversal into DH Corp, which is listed in Toronto, seen as possible options for the British company.
Instead Vista will acquire DH and merge it with the existing asset.
Vista said that the merger of D+H, the trading name of the Canadian company, and Misys would create a FinTech powerhouse with $2.2 billion in revenue, around 10,000 employees, and more than 9,000 customers across 130 countries, including 48 of the top 50 Banks.
The C$25.50 a share cash offer represents a premium of 36 per cent to the D+H share price in early December when it said it was exploring strategic options.