Davis + Henderson Corporation (D+H), provider of technology solutions, announced the completed acquisition of Harland Financial Solutions for $1.2 billion.
D+H, which announced its intention to acquire Harland last month, previously said that the acquisition will help them compete in the financial services technology market -- specifically core banking -- and will bring their total client base to 6,200 institutions. 5,400 institutions currently use Harland solutions.
Davis + Henderson provides lending and payments solutions to 1,700 banks and credit unions in North America, but has not previously offered a core banking solution. HFS’ core banking clients will also provide a client base for ancillary products and services from D+H and HFS.
“We look forward to using our complementary technologies and expanded capabilities to meet the broader needs our combined client base of 6,200 and to forge an even stronger value proposition for the future as we concentrate on growing our presence around 13,000 banks and credit unions who form our available market,” said Gerrard Schmid, CEO of D+H, in a statement.
Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received her B.A. in English and journalism from Rutgers University College of Arts and Sciences in ... View Full Bio