With Harland Buy, Davis + Henderson, Canadian Tech Giant, Plunges Into U.S. Market
With an agreement to acquire Harland Financial Services for $1.2 billion, Toronto-based financial technology company Davis + Henderson, aka D + H, has transformed itself into a player in the United States’ financial services scene.
The deal is expected to close in three to four weeks, said D + H USA president Bill Neville.
Cornerstone Advisors partner Steve Williams said in an interview that the deal was ambitious on D + H’s part, but, he added, that D + H saw the value of entering the U.S. market.
Another partner at Scottsdale, Ariz.-based Cornerstone Advisors, Terence Roche, stressed that Harland brings many revenue sources to D + H, that the deal is not simply about lending products or core systems. But that in fact Harland comes with a range of products and services that will likely help D + H establish itself quickly in the US market, said Roche.