Vista Equity to buy DH Corp for $4.8B
CBJ — U.S. investment firm Vista Equity Partners will acquire Canada’s DH Corp in a deal valued at $4.8 billion, highlighting the growing interest in companies specializing in financial technology.
Vista will combine DH with one of its portfolio companies, UK-based financial software firm Misys, which scrapped a planned London listing last year.
Shares of DH were up 9% on word of the deal.
Vista’s acquisition of DH is the largest takeover of a Canadian company by a foreign firm since December 2014, when Spain’s Repsol agreed to buy oil producer Talisman Energy.
Private equity firms and financial institutions are increasingly spending money on fintechs – companies that use technology to revamp business transactions – in the expectation that innovations will transform the financial services industry in decades to come.
Venture capital-backed investment in Canadian fintechs hit its highest level in almost two decades last year, even as the flow of funds into major fintech markets like the United States declined.