NEW YORK, March 13 Elliott Management's private equity division was among the firms that provided financing to Vista Equity Partners for its $3.6 billion purchase of Canada's DH Corp, according to people familiar with the matter.
Vista will now acquire DH Corp - which listed on the Toronto Stock Exchange in 2011 - for C$25.50 per share giving it a total value of $4.8bn in order for it to merge the business with Misys.
Vista, founded by former Goldman Sachs banker Robert Smith, said the enlarged company will remain private.
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It's another twist in the Misys story.
"By combining D+H with Misys Vista will be creating a global leader in financial technology", CEO Gerrard Schmid said in a press release. A spokeswoman for Misys declined to comment.
Nadeem Syed, Misys chief executive, added: "By coming together, we have the opportunity to create a global fintech powerhouse, positioning us to lead the corporate banking software space, accelerate our cloud-based offerings, and expand our footprint in North America". Its customers include banks and credit unions.
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Vista said it would combine DH with one of its portfolio companies, United Kingdom -based Misys, a software provider for retail and corporate banking, lending, treasury and capital markets.
The deal, which requires approval from D+H's shareholders, is expected to complete before the end of the third quarter.
The transaction price represents a premium of approximately 36% over D+H's closing share price on 5 December, when reports first surfaced that the company was in the market.
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