French global solutions provider Linedata and financial technology provider Fimasys are signing a deal to strengthen their credit finance and employee savings businesses. As per the deal terms, shareholders of Fimasys will offload all of their shares to Linedata.
The deal will be funded by cash on hand for nearly 90% of the consideration and by Linedata shares held by the company for the remainder. The transaction is expected to close during the third quarter of 2011.
Click here for the release from Linedata.