Vista Equity Partners closes $4.8B D+H acquisition

Vista Equity Partners has completed previously announced acquisition, by way of plan of arrangement, of all of the outstanding common shares of DH Corporation (TSX: DH) for $25.50 in cash per share. The transaction values D+H at a total enterprise value of approximately $4.8 including the assumption of all debt obligations.

Upon closing of the transaction, D+H will be combined Vista’s portfolio companies, UK-based, Misys, a global software provider for retail and corporate banking, lending, treasury and capital markets, investment management and enterprise risk. The combination will create a diversified FinTech market leader, with a global footprint and one of the broadest set of financial software solutions available to the market with approximately $2.96 billion (approximately US$2.2 billion) in revenues, approximately 10,000 employees, and 9,000+ customers across 130 countries, including 48 of the top 50 Banks.

In connection with the transaction, Credit Suisse and RBC Capital Markets acted as financial advisors to D+H, and Stikeman Elliott LLP and Cravath, Swaine & Moore LLP acted as legal advisors. Morgan Stanley, along with Barclays and Citi, acted financial advisors to Vista Equity Partners. Kirkland & Ellis LLP and Goodmans LLP acted as legal advisors to Vista Equity Partners.

photo credit: D+H

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.