2013-02-14 17:46:58 -
PARIS, February 14, 2013: Linedata (Nyse Euronext: LIN) has agreed to acquire
HCL Technologies' CapitalStream business and enter into a strategic partnership
with HCL Technologies Ltd. The transaction is expected to close before the end
of Q1 2013.
Linedata is one of the leading providers of software and services to the credit
and financing industries in Europe and Africa. Linedata has also developed a
significant presence in North America in the asset management area.
Acquisition of CapitalStream
CapitalStream is a market leading software platform that offers a sophisticated
suite of credit lifecycle management solutions to the financial services
industry. It has a fast-growing client portfolio of
prestigious banking and
other financial institutions in North America. Revenues for their last financial
year ending June 2012, expressed in U.S. GAAP, amounted to $ 30 million. The
Company employs approximately hundred employees in the USA (Seattle, WA &
Irvine, CA)
As part of the acquisition, Linedata would acquire all the assets and associated
liabilities for a sum of $45 million. The transaction will be financed by an
extension of an existing bank loan with a pool of banks. Following the
transaction, debt ratios will remain at a reasonable level and the leverage
ratio (net debt post-closing / consolidated EBITDA) will be less than 2.
This combination will enable Linedata to offer a uniquely powerful and
comprehensive set of applications for North America and the global marketplace.
HCL Technologies, the long standing owner of CapitalStream,is a leading global
technology and IT services company. This agreement reflects HCL's core strategy
of joining hands with product companies to offer transformational services to
its clients. Through this partnership, Linedata will be able to reinforce its
services offering to support CapitalStream clients in all of their major IT
projects.
Anvaraly Jiva, Founder and CEO of Linedata, says: "I am very pleased to welcome
this highly talented team and prestigious client base to Linedata. This
acquisition will extend our ability to provide end-to-end solutions to the
credit and finance industry globally. The partnership with HCL will
substantially improve our ability to engage in very large projects with our
clients. Linedata's presence in North America, a key to our global growth, will
be significantly expanded".
Next communication: publication of 2012 annual results on February 28, 2013
after close of trading.
ABOUT LINEDATA
Linedata is a global solutions provider with 700 clients operating in 50
countries. With more than 900 employees across the globe, Linedata is dedicated
to the investment management and credit community. Linedata has been at the
service of the financial industry from day one, and applies its market and
client insight to provide innovative and tailored mission-critical software and
services that help its clients grow. As a pioneer for over 10 years with the
set-up of SaaS infrastructure for the financial industry, Linedata has preached
and spread this model throughout the global financial community, for its full
range of products. Headquartered in France, Linedata achieved revenues of EUR
144 million in 2012. This company is listed on Euronext Paris FR0004156297-LIN -
Reuters LDSV.LN - Bloomberg LIN:FP.
For further information, please contact:
Linedata Cap Value
Finance Department Financial communication
+33 (0)1 47 77 68 39 Gilles Broquelet / Samuel Beaupain
infofinances@linedata.com +33 (0)1 80 81 50 00
www.linedata.com
info@capvalue.fr
www.capvalue.fr
130214-linedata-en:
hugin.info/143495/R/1678048/547740.pdf
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Source: LINEDATA SERVICES via Thomson Reuters ONE
[HUG#1678048]
