Credit & Risk Management Solution Strengthens Linedata’s Product Offering and Presence in North America
Linedata, the global solutions provider for the investment management and credit finance communities, has finalised its acquisition of the CapitalStream business and launched a strategic partnership with HCL Technologies Ltd.
CapitalStream is the market leading loans origination platform for commercial banks and equipment finance specialists. It is being adopted more widely than any other lending and leasing platform in North America, responding in a uniquely powerful way to the new risk and workflow management imperatives of the industry.
The revenues of this business will be consolidated into Linedata's accounts from today. During the twelve months ending June 2012, CapitalStream posted annual revenues of $30 million, according to US GAAP. The business has some 100 employees in the USA and Canada.
This acquisition significantly strengthens Linedata's position in North America, with this region now accounting for over a third of the Group's revenues. It also significantly extends the Group’s presence and capabilities in the lending and leasing area. It follows the acquisition of Fimasys in July 2011 and positions Linedata as one of the leading global players in the Credit Finance area.
"This acquisition represents a major step in our growth strategy, enabling us to provide advanced and innovative front-to-back solutions in the key North American and European markets, and beyond. We are now uniquely positioned to become the global partner of choice for the credit and finance community," comments Anvaraly Jiva, Founder and CEO of Linedata. “It also reinforces our presence in North America which has always been key to our global growth strategy.”