Two major financial software firms are joining forces to create the world’s third largest fintech company.
Misys and D+H have joined forces to create a diversified global financial software provider. Operating under the new company name Finastra, the combination will create the third largest financial services technology company in the world.
The new company has approximately 10,000 employees and over 9,000 customers across 130 countries, including 48 of the top 50 banks globally.
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This follows the acquisition of D+H by Vista Equity Partners, which already owns Misys, creating a merger of two complementary financial technology providers.
Finastra will be led by Nadeem Syed in the role of Chief Executive Officer. Syed was previously CEO of Misys and has over 27 years of experience leading global technology companies through transformation and growth.
The company has around $2.1 billion in revenues and has offices in 42 countries around the world. It will be headquartered in London, U.K, maintaining North American headquarters in Toronto, Canada. Finastra will be privately held.
