The world’s third-largest financial technology (fintech) company, Finastra, has been officially launched, following the union announced in March between Canada’s D+H and London-based Misys.
The new company created by the combination has around 10,000 employees and over 9,000 customers across 130 countries, including 48 of the top 50 banks globally. It will be privately held by Vista Equity Partners, which has owned Misys since 2012 and added D+H three months ago. Finastra will be led by Nadeem Syed in the role of chief executive officer (CEO). He was previously CEO of Misys and has over 27 years of experience leading global technology companies.
“We firmly believe that Finastra is greater than the sum of its parts. said Robert Smith, founder, chairman and CEO of Vista Equity Partners. “The combination of scale, efficiency, and market leading service and technology will create a powerhouse in the fintech sector and uniquely position the company to meet the demands of its global customers and their clients.”
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The union has been sealed after the two rivals announced an initial agreement last month.