Financial technology company Davis and Henderson has completed the acquisition of its US-based counterpart Harland Financial Solutions.
The deal has cost the Canadian firm $1.2 billion and it now hopes product cross-selling will receive a boost as a result, with new revenue opportunities emerging.
Davis and Henderson has improved its competitive position by expanding its value-added suite of financial technology products, mainly aimed at banks and credit unions.
Gerrard Schmid, chief executive officer of Davis and Henderson, said the company will use its complementary technologies and expanded capabilities to meet the wider needs of its combined client base of 6,200.
He went on to say the firm is concentrating on growing its presence among the 13,000 banks and credit unions in North America.
"The enthusiastic support received in the capital markets and in our client markets since we announced the transaction is much appreciated and reflects the clear value creation potential of this transformational acquisition," he added.
By Asim Shah