Canadian financial technology DH Corporation (D+H) has completed the acquisition of Fundtech, a US-based provider of transaction banking software, from private equity firm GTCR.
D+H reached an agreement to acquire Fundtech for $1.25bn in March this year.
Fundtech offers transaction banking software that facilitates payment processing, cash management, and financial messaging products for financial institutions and corporate customers.
The company’s payment hub software delivers money center banks with the ability to achieve enhanced payment efficiency, cost effectiveness, visibility and compliance by operating global payment functionality via a single software instance.
Barclays and RBC Capital Markets served as Fundtech’s financial advisors, and law firm Kirkland & Ellis provided legal counsel.