Vista Equity Partners will head north for its latest fintech investment, as the Austin-based firm has agreed to acquire Canadian banking software provider D+H (TSX: DH) at an enterprise value of C$4.8 billion ($3.6 billion). The traditional check-printing company will merge with UK-based Misys, a software provider for the retail and financial sectors that Vista bought for $2 billion in 2012.
Vista offered C$25.50 in cash per D+H share, an 11% premium over the company’s close price Friday. The deal comes just days after SEC filings revealed Vista has raised $10.5 billion for its latest flagship vehicle.
Overall, investors completed 1,068 PE deals in the global financial services sector in 2016, according to the PitchBook Platform, signifying a 12.5% yearly decline in activity. It marked the first time deal count had decreased year over year since 2012.