Austin Ventures to acquire Asset International
Austin Ventures is acquiring Asset International, a global financial information provider that produces industry-leading publications such as PLANSPONSOR, PLANADVISER, and Global Custodian that have served for more than a decade the needs of global pension funds, asset managers, financial advisers, banking service providers, and other financial institutions. The infusion of capital and management expertise will enable Asset International to greatly expand its existing offerings and to launch new digital products into the global funds management industry.
Announcement Date: December 22, 2008
Deal Value: Undisclosed
Morningstar acquires Tenfore Systems
Morningstar, Inc., a provider of independent investment research, has acquired Tenfore Systems Limited, a global provider of real-time market data and financial data workstations based in the United Kingdom. Tenfore collects data on global equities, commodities, derivatives, indexes, and foreign currencies from more than 160 sources and consolidates the data for real-time distribution to clients. The company also offers front-end software terminals that leverage the company's market data, along with analytics and third-party application plug-ins. Tenfore provides an entry into a new area for Morningstar: offering global real-time stock quotes to its clients. There is a large market for this data, and Morningstar can now bundle real-time quotes with its fundamental equity data and research.
Announcement Date: December 17, 2008
Deal Value: $21 Million (Cash)
Fiserv to acquire i_Tech
Fiserv, Inc., a provider of information technology services to the financial industry, is acquiring i_Tech Corporation, a provider of outsourced account and payment processing services, from First Interstate BancSystem Inc. i_Tech provides outsourced account processing services as a licensee and reseller of the Fiserv ITI Premier core banking system to financial institutions. In addition to account processing services, i_Tech provides its clients with a variety of complementary services including EFT processing and check processing.
Announcement Date: December 16, 2008
Deal Value: $40 Million (Cash)
Filogix to acquire Cyence International Inc.
Davis + Henderson Income Fund’s Filogix Segment, a Canadian mortgage technology provider, will acquire Cyence International Inc. Established in 1996, and with clients in Canada, the United States and Australia, Cyence is a leading international provider of credit lifecycle management software and service solutions to the financial services industry. Its premier software platform, ExpressOS, offers a sophisticated suite of lending and leasing front-office solutions that automate, integrate and facilitate the origination, decisioning and loan servicing business processes. Highly configurable, user-friendly applications allow clients to create and manage real-time transactions with significantly improved efficiency and savings. This acquisition is consistent with its stated strategy of delivering more programs within the lending services marketplace.
Announcement Date: December 10, 2008
Deal Value: $30.5 Million (Cash)
IFTH Acquisition Corp. acquires National Credit Report.com, LLC
IFTH Acquisition Corp has acquired National Credit Report.com, LLC, a premier provider of identity security products and services focused on credit monitoring and identity theft protection. Reflecting the company's new line of business, the company intends to change its name to Steel Vault Corporation and also change its ticker symbol upon stockholder approval in the first quarter of 2009. IFTH Acquisition Corp. is a premier provider of identity security products and services, including credit monitoring, credit reports, and other identity theft protection services.
Announcement Date: December 8, 2008
Deal Value: Undisclosed
Privinvest Holding acquires VendTek Systems
Privinvest Holding SAL, the Lebanese holding company having investments in high technology corporations in Europe and the Middle East, has acquired ownership of an aggregate of 1,519,000 additional common shares of VendTek Systems Inc. As a result of the acquisition of the additional common shares, Privinvest now owns approximately 19.74% of the issued and outstanding common shares of VendTek. VendTek develops and licenses software for the global prepaid and financial services markets.
Announcement Date: December 8, 2008
Deal Value: Undisclosed
Morningstar, Inc. acquires 10-K Wizard
Morningstar, Inc., a provider of independent investment research, has acquired 10-K Wizard, a leading provider of SEC EDGAR (Electronic Data Gathering, Analysis, and Retrieval) filing research and alert services. There is a great wealth of information available to the public through the SEC's EDGAR system, but navigating the myriad filings to find relevant information can be a challenge. The acquisition of 10-K Wizard aligns with Morningstar’s goal of bringing greater transparency to equity investments. 10-K Wizard is a well-respected resource for financial research, and the company has developed a robust and intuitive data mining application that allows users to easily search and retrieve information across different filings and time periods. 10-K Wizard's technology not only sheds light on stock investments, but can be applied to documents of all kinds, like mutual fund prospectuses.
Announcement Date: December 3, 2008
Deal Value: $12.5 Million (Cash)
Neovia Financial acquires IDT’s European Prepaid Payment Services Division
Online payments provider, Neovia Financial, has acquired IDT Corporation’s European Prepaid Payment Services Division. The agreement will create one of Europe’s largest independent pre-paid debit card businesses. The acquisition will mean Neovia can enhance its product lines and distribution based on the IDT Prime Card, accelerating the development of Neovia’s pre-paid Net+ card business and rapidly increasing the company’s active Neteller e-wallet customer base.
Announcement Date: December 1, 2008
Deal Value: $15.05 Million
DataVision to acquire Netupdate from Most Home Corp.
DataVision Inc. is acquiring Netupdate Inc., a developer of e-lending technologies for mortgage lenders, from Most Home Corp. (Canada). The economic climate has changed significantly since Most Home acquired Netupdate and it is imperative that it responds effectively to these realities. Most Home advises that the sale of Netupdate Inc. is part of a larger strategy to strengthen the company's balance sheet and better focus on its core strengths. DataVision will be positioned to deliver even stronger value to the Netupdate customers as Most Home focuses its attention on the wireless side of its business for the real estate industry.
Announcement Date: November 25, 2008
Deal Value: Undisclosed
M2 Global, Ltd. acquires iKobo
M2 Global Ltd. (Antigua), a provider of online electronic payment systems, has acquired all assets of iKobo, an international person-to-person remittance firm. iKobo’s money transfer service is card-based and uses a Visa Prepaid Card issued by Visa international’s member bank, Global Bank of Commerce, which enables recipients to get cash from over 1,000,000 ATMs worldwide and use their card wherever Visa debit cards are accepted. The acquisition fits perfectly into M2 Global’s strategy to offer the most secure and flexible financial transactions available. M2 Global’s proven e-business infrastructure will quickly integrate iKobo’s customers to provide a secure and smooth transition for cardholders. iKobo’s Visa Prepaid Debit Card program has been a proven transfer service for over 5 years, and the business provides an ideal addition to M2 Global’s payment solutions.
Announcement Date: November 19, 2008
Deal Value: Undisclosed
Heartland Payment Systems acquires Chockstone
Heartland Payment Systems, Inc., a leading provider of credit/debit/prepaid card processing, payroll, check management and payments solutions, has acquired Chockstone, Inc., a privately held provider of gift card programs and loyalty solutions. Chockstone’s loyalty platform helps businesses of all sizes identify their most profitable customers and market to their unique needs – thereby increasing the frequency of their visits and the size of their average purchases. Using real-time analysis of guest behavior, the technology creates targeted point-of-sale-based promotions. Chockstone’s loyalty marketing and gift card solutions are used by leading brands in more than 65,000 restaurant, convenience store, and other retail locations in North America. Heartland’s acquisition of this premier niche provider expands its ability to equip businesses nationwide with enhanced gift card and loyalty programs.
Announcement Date: November 19, 2008
Deal Value: Undisclosed
Chi-X Global acquires Cicada
Chi-X Global Inc., a holding company for the regional Chi-X trading platforms, acquired the assets of Cicada Corp., a provider of low latency data management technologies, customer qualification and compliance software, and other services for financial institutions, exchanges and data vendors. Market centers around the world are today looking to build out their trading infrastructures in order to accommodate the global trading community’s vastly increased demands, and Cicada has clear expertise in this area after having worked with a number of global exchanges on their technology needs. With this acquisition, which is effective immediately and includes Cicada’s entire global employee base, Cicada founder and CEO Gregory E. Smith will become the head of Chi-X Global’s newly-created exchange services business unit, Chi-X Global Technology, LLC. The new exchange services business will operate separately from Chi-X’s regional trading platforms.
Announcement Date: November 18, 2008
Deal Value: Undisclosed
DST Systems acquires BlueDoor Technologies
DST Systems, Inc. has acquired BlueDoor Technologies Pty Ltd, a private company based in Melbourne, Australia. BlueDoor provides software solutions for participant accounting for the funds management and retirement savings ("superannuation") markets in Australia. BlueDoor has approximately 35 employees and reported revenues of approximately $7.0 million (AUD) for the fiscal year ended June 30, 2008. DST Systems, Inc. is a global provider of information processing and computer software services and products to the financial services industry (primarily mutual funds and investment managers), telecommunications industry, the healthcare industry and other service industries.
Announcement Date: November 14, 2008
Deal Value: Undisclosed
First New York Securities acquires Spartan Technologies
First New York Securities, LLC, the multi-strategy proprietary trading firm, acquired all the assets of Spartan Technologies, LLC. This is a well timed and strategic acquisition that allows FNYS to quickly consolidate its technology platforms. It also give the company the flexibility to develop customized applications and features required by its traders to enable them to be more competitive and efficient. Spartan’s HydraTrade platform is a proven broker-dealer-neutral execution management system. It provides best execution and order routing for buy- and sell-side traders that include many forms of trader-friendly functionality. Connectivity includes major U.S. exchanges and electronic communication networks, including all order management systems providers, and dark pools.
Announcement Date: November 13, 2008
Deal Value: Undisclosed
Ebix acquires ConfirmNet
Ebix, Inc., an international developer and supplier of software and e-commerce solutions to the insurance industry, is acquiring ConfirmNet Corporation. ConfirmNet offers ASP software on an SaaS basis for issuing and tracking certificates of insurance (COI). Over the years, ConfirmNet has emerged as the leader in the COI issuance industry in the United States. Before being acquired by Ebix, ConfirmNet had the second largest market share in the certificate tracking industry in the United States. Ebix’s existing BPO division, EBIXBPO, has the largest market share in the certificate tracking industry in the United States, with this acquisition strengthening its position even further. The acquisition is expected to be accretive to Ebix earnings per share in the near and long term future.
Announcement Date: November 10, 2008
Deal Value: $11 Million (Estimate of earnout in cash)
GBST acquires Coexis
GBST (Australia), provider of securities transaction and fund administration software for the financial services industry, has acquired Coexis, provider of software for the securities industry. In addition to the Syn development technology, GBST would gain access to Syn services for multi-site, middle and back office securities processing, enterprise-wide reference data management, corporate actions, multi-exchange and multi-central securities depository. Similarly GBST's products would be available to Coexis customers and prospects.
Announcement Date: November 5, 2008
Deal Value: Undisclosed
Fiserv acquires The Data Center
Fiserv, a leading provider of information technology services to the financial industry, has acquired The Data Center (TDC) based in Grapevine, Texas, from Compass Bank. TDC was a licensee and reseller of the Fiserv ITI Premier core banking system, which is available for either outsourced or in-house account processing, and offers products and associated consulting services for virtually every banking function. Fiserv is acquiring all of The Data Center's assets and contracts. The deal allows Fiserv to extend its core footprint and increase their ITI outsourcing presence in the Texas marketplace.
Announcement Date: November 3, 2008
Deal Value: Undisclosed
TSYS to acquire Infonox
TSYS is acquiring Infonox, a privately owned technology firm with payments expertise, technologies and a focused methodology to deliver rapid-to-market solutions. The Infonox plug-and-play platforms simplify the acceptance of payment forms to include, but not limited to: debit, credit, prepaid, money transfer and checks. It also offers new connectivity interfaces to multiple payment devices and new channels of service delivery such as mobile phones, ATMs and bill-pay kiosks. Infonox provides a proprietary end-to-end tool to manage the lifecycle of a merchant so businesses can better engage, serve and retain their customers. This acquisition will add a Silicon-valley innovation team and valuable new payment technology and acceptance capabilities that help TSYS in its mission to move any payment form, through any payment device, anywhere in the world, over any network.
Announcement Date: October 30, 2008
Deal Value: Undisclosed
Privinvest Holding SAL acquires VenkTek Systems Inc
Privinvest Holding SAL announced that it has acquired ownership of 2 million common shares of VendTek Systems Inc. As a result of the acquisition, Privinvest now owns and exercises control over approximately 14.33% of the issued and outstanding common shares of Vendtek. Privinvest Holding SAL is a Lebanese holding company having investments in high technology corporations in the Middle East. Privinvest is focusing on implementing electronic distribution networks in the Middle East, Africa and the Asian countries, and working on building an association with VendTek concerning those regions. VendTek Systems Inc. develops and licenses software for the global prepaid and financial services markets.
Announcement Date: October 29, 2008
Deal Value: Undisclosed
Wolters Kluwer acquires IntelliTax
CCH Small Firm Services, part of Wolters Kluwer Tax and Accounting, has acquired the tax preparation software company, IntelliTax, formerly known as Orrtax Software Solutions. SFS provides the ATX and TaxWise lines of tax compliance and accounting software to 45,000 small professional firms in the United States and Puerto Rico. IntelliTax offers tax compliance software to 4,000 similar firms, who will now be offered the TaxWise program for the 2009 tax season. The acquisition further expands the ability of SFS to serve as a partner to small firm professionals, delivering tax preparation software and services to increase their productivity, efficiency and accuracy.
Announcement Date: October 27, 2008
Deal Value: Undisclosed
Continuity Engine acquires Business IQ
Continuity Engine acquired Business IQ for its banking intelligence and profitability capabilities that will be integrated into their flagship product. With this functionality, Continuity Engine will allow community banks and credit unions to manage risks that are technical, natural or business-related. With Business IQ capabilities, Continuity has the ability to look at business risk inside a bank's critical data. By including Business IQ's technology, it allows clients to manage business risks by making them transparent.
Announcement Date: October 27, 2008
Deal Value: Undisclosed
Financial Technologies acquires ACE Group
India’s Financial Technologies group has acquired a 90 per cent stake in UK-based collateral management services provider ACE Group. ACE has provided collateral management and other credit support services across 2,000 different warehouses in more than 50 countries. The E3C (Enhanced Credit Commodity Control) technology of ACE is a robust technology for banks to mitigate performance risks and secure transactions in credit finance for commodities. The buy further strengthens their robust portfolio of technology IP-based solutions for global financial markets.
Announcement Date: October 15, 2008
Deal Value: $22.5 million
Fundtech acquires Synergy Financial Systems
Fundtech Ltd., provider of global transaction banking solutions, acquired Synergy Financial Systems Ltd. through its Swiss subsidiary BBP, making it the world’s largest SWIFT service bureau operator based on transaction volume, with a client base of over 200 financial institutions. Synergy is a leading U.K. provider of SWIFT services. BBP will integrate Synergy into its business unit, and will continue to operate both companies’ service bureau facilities, adding capacity and operational resilience. In addition to SWIFT connectivity services, both companies offer a variety of SWIFT-related products and services that can be cross-sold to the newly combined client base.
Announcement Date: October 8, 2008
Deal Value: Undisclosed
RiskMetrics Group acquires Applied4 Technology
RiskMetrics Group, a provider of risk and corporate governance services to participants in the global financial markets, has acquired UK-based Applied4 Technology Ltd., a firm known for its expertise in performance attribution. Applied4 Technology Ltd. is a specialist provider of technology solutions in the field of investment performance measurement. The firm was created by Mick Brant and several former colleagues from Mellon Analytical Solutions. The acquisition of Applied4 and its team of experts paves the way into the multi-asset class performance attribution space for RiskMetrics at a time when understanding the risk and performance attributes of an investment portfolio have never been greater.
Announcement Date: October 6, 2008
Deal Value: Undisclosed
SS&C Technologies acquires Micro Design Services
SS&C Technologies Inc., a financial services software provider, has bought the assets of Micro Design Services LLC, a software design and development firm. Micro Design Services’ software is used in routing systems and order management in securities exchange floor operations, and claims 1,700 users and 45 brokerage firms of its Market Look Information System. The company played a role in implementing U.S. exchange use of the first hand-held wireless trading system. The acquisition should add mobile computing and messaging expertise to the company.
Announcement Date: October 3, 2008
Deal Value: Undisclosed
Polaris Software to acquire SEEC
Polaris Software Lab Ltd. (India), a specialty application provider in banking, financial and insurance sectors, is acquiring U.S.-based insurance product and component services company, SEEC Inc. SEEC has designed, built and tested hundreds of non-proprietary, SOA software components that can be quickly assembled to deliver business solutions that streamline service, accelerate sales, and improve productivity across the enterprise. This deal forms the pivot of Polaris’ growth strategy in the Insurance space, a market poised for higher growth in the areas of claims, sales and product management and customer service.
Announcement Date: October 2, 2008
Deal Value: Undisclosed