Nadeem Syed, CEO of Finastra
London-based financial software firm Misys has merged with Canadian company D+H to create the world’s third-largest fintech company.
Operating under the new company name Finastra, the company boasts around 10,000 employees and over 9,000 customers across 130 countries, including 48 of the top 50 banks globally.
The merger follows the acquisition of D+H by Vista Equity Partners, which already owns Misys.
Finastra will be led by Nadeem Syed in the role of chief executive officer. Syed was previously CEO of Misys and has over 27 years of experience leading global technology companies through transformation and growth.
The company has US$2.1bn in revenues and has offices in 42 countries around the world. It will be headquartered in London, UK, maintaining North American headquarters in Toronto, Canada.
Syed said: “Serving all of our customers and partners remains our top priority.
“By coming together as Finastra we are committed to enhancing our ability to deliver market-leading products and services, and to being an even more strategic partner to our customers.
“We will build momentum, delivering innovative and transformational products and exceptional service. Our mission is to help our customers, whatever their size, wherever they are located.”
Finastra will now offer the broadest set of retail banking, transaction banking, lending, and treasury and capital markets software capabilities available in the world.
Robert Smith, founder, chairman and CEO of Vista Equity Partners, added:"We firmly believe that Finastra is greater than the sum of its parts.
“The combination of scale, efficiency, and market leading service and technology will create a powerhouse in the fintech sector and uniquely position the company to meet the demands of its global customers and their clients.”