Linedata (NYSE Euronext: LIN) has completed its transaction with Fimasys and now holds 100% of the outstanding shares of the company, after announcing their planned combination July 11.
Fimasys has clients in 15 countries and posted revenues of nearly $10 million in 2010, of which 50% was realized 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, Anvaraly Jiva, chairman of the executive board of Linedata, says. The completion of this transaction is also an important step for Linedata as we reengage in our build-up strategy.
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