19 January 2024
Translink Corporate Finance has acted as lead advisors to ieDigital (ieD), a leading provider of digital banking software, based in the UK, on its acquisition of Connect FSS, a US-based digital banking technology consultancy and software solutions provider.
ieDigital, a leader in the UK fintech market, provides digital software solutions to more than 50 financial services businesses including four of the five major UK high street banks. Connect FSS is a well-established digital banking provider serving credit unions in the United States.
The acquisition positions ieDigital as one of the largest global digital banking software providers in the mid-market. It brings together the expertise of both companies and reflects a shared commitment to delivering innovative and enhanced digital software solutions to financial services firms and credit unions.
Translink provided a full buy side search and advisory service, supporting our client with a detailed review of the US market. After clearly defining the acquisition criteria of the acquiror and carrying out market mapping, we assisted with outreach, effective engagement and negotiation.
The Translink Corporate Finance team was led by Mohit Mehta in the US supported by a UK team led by Andy Haigh.
Mohit Mehta, Director of International Business at Translink, said: “Extremely pleased to have supported ieDigital with their first acquisition in the US. The financial software market in the US is large and multifaceted.
“We conducted a comprehensive search for ieD, presenting multiple potential acquisitions targets, and ultimately culminating in ieD’s acquisition of Connect FSS.”
Translink Corporate Finance UK Partner, Andy Haigh, said: “This is a fantastic example of how Translink’s buyside capability can support cross-border acquisitions.
“The market mapping, screening, and contact process that Translink has in the US is market leading and offers both large and mid-market companies based in the UK a unique opportunity to gain critical mass in the US market.”
Jerry Young, CEO, ieDigital, said: “Cross-border transactions can be complex, and finding the right acquisition opportunity, especially in a large and complicated market like the US brings its own set of challenges.
“Translink was instrumental in helping us navigate the market and find an acquisition that perfectly aligned with our objectives. We’re very excited about the growth opportunity this acquisition will bring.”