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