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Linedata and Fimasys plan to come together to strengthen their credit finance and employee savings businesses

Linedata (NYSE Euronext: LIN) and Fimasys, financial technology providers, have today announced the signing of a protocol according to whose terms the shareholders of Fimasys have agreed to sell all of their shares to Linedata. The completion of this transaction is subject to the completion by Linedata of some additional due diligence work. The parties plan to close the transaction during the third quarter of 2011. The acquisition of Fimasys will be financed by cash on hand for approximately 90 percent of the consideration and by Linedata shares held by the company for the remainder. The amount of the consideration has not been disclosed.

Both companies are recognised leaders in the areas of credit finance software and record keeping solutions for company-sponsored employee savings plans and believe this transaction will strengthen their market positions across Europe and globally in these high-growth markets.

“Today’s large, international credit organisations are looking for technology solutions that cover the full range of credit finance products and that can be deployed in a number of different countries,” says Didier Seillier, President, CEO and co-founder of Fimasys. “As a consequence, these organisations expect their technology partners to have an international presence with global support capabilities. By pooling our strengths we shall meet these requirements within a world class organisation and capitalise on this global market.”

Anvaraly Jiva, founder and CEO of Linedata, adds:
“Having rubbed shoulders for a number of years and shared some prestigious clients in the credit finance and employee savings areas, our teams know each other well and have developed a clear, shared understanding of our respective strengths and complementarities, both from a product coverage and technology point of view. I have no doubt that these synergies will enable us to grow our presence in France and internationally to better serve our clients.”