Misys and D+H have revealed details of their planned merger, creating a global behemoth in the market for financial software under a new brand name Finastra.
The combination will create the third largest financial services technology company in the world. The company has approximately 10,000 employees and over 9,000 customers across 130 countries, including 48 of the top 50 banks globally.
The move follows the March acquisition of D+H by Vista Equity Partners, which already owns Misys.
Finastra will be led by Misys CEO Nadeem Syed, who is keen to reassure joint customers that their current investment in technology will be protected.
“Serving all of our customers and partners remains our top priority,” says Syed “By coming together as Finastra we are committed to enhancing our ability to deliver market-leading products and services, and to being an even more strategic partner to our customers. We will build momentum, delivering innovative and transformational products and exceptional service. Our mission is to help our customers, whatever their size, wherever they are located,”
The company has $2.1 billion in revenues and has offices in 42 countries around the world. It will be headquartered in London, UK, maintaining North American headquarters in Toronto, Canada.