Software and services provider Linedata has agreed to acquire IT service company HCL Technologies’ credit lifecycle management software, CapitalStream.
It will acquire all of CapitalStream’s assets and associated liabities for $45m, which it will finance through an extension of an existing bank loan with a pool of banks.
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Reporting at the end of the last financial year, June 2012, CapitalStream revenues were $30m and the company employs approximately a hundred employees in Washington state and California.
Linedata said the acquisition would enable it to enhance its services worldwide and in North America, specifically, and would continue to support CapitalStream clients’ major IT projects.
Previously, Linedata has provided analysis of how electric vehicles could prompt differentiated revenue streams for finance companies, and has also analysed how the European situation could affect UK finance companies.
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