D+H to be acquired by Texas-based Vista Equity in $4.8B deal
The financial services provider D+H got its start printing cheques for the big banks, but evolved to provide a number of business services
TORONTO—DH Corp. has signed a deal to be acquired by a Texas-based investment firm under a friendly takeover offer worth more than $2.7 billion to the Toronto-based company’s shareholders.
Under the plan announced this morning, Austin-based Vista Equity Partners has offered $25.50 in cash per DH share. It would also assume DH’s debt, pushing the total value of the deal to $4.8 billion.
After the deal closes, Vista wants to merge DH with Misys, a U.K.-based software company focused on the global banking industry.
DH got its start in business primarily printing cheques for all of Canada’s major banks under the name Davis + Henderson, but has since evolved into a more diverse company focused on the financial services industry.
DH said in December that it had received expressions of interest from unidentified parties.
Shares in the company closed at $23.04 on the Toronto Stock Exchange on Friday.