Following the announcement by financial technology specialists Linedata (NYSE Euronext: LIN) and Fimasys on 11 July 2011 of their planned combination and the subsequent completion of outstanding due diligence work, Linedata today announces that it has completed the transaction and that it now holds 100 per cent of the outstanding shares of Fimasys.
Fimasys has clients in 15 countries and posted revenues of nearly EUR 10 million in 2010, of which 50 per cent was realised outside of France.
This acquisition strengthens the market position of the Group in its key Credit Finance and Employee Savings verticals, in France as well as abroad.
"The synergies between our businesses and complementarities between our teams will enable us to reinforce our presence in the strategically important credit finance and employee savings markets. The completion of this transaction is also an important step for Linedata as we reengage in our build-up strategy" said Anvaraly Jiva, Chairman of the Executive Board of Linedata.