Davis + Henderson announced it has successfully completed the $1.2 billion acquisition of Harland Financial Solutions (HFS), a U.S.-based provider of strategic technology, including lending and compliance, core banking, and channel management technology solutions.

With the acquisition, D+H said it improves its competitive position by expanding its value-added suite of financial technology products for banks and credit unions and accelerates its strategy of being a leading North American FinTech provider. Inclusive of HFS, D+H said it now serves approximately 6,200 customers in North America and achieves greater revenue diversification by geography and service line.

The all-cash transaction was funded by way of a bought deal prospectus offering of subscription receipts and 6.00% extendible convertible unsecured subordinated debentures for gross proceeds of $690.2 million and from borrowings under a new committed credit facility.

To read the Davis + Henderson news release click here.