D+H (originally Davis & Henderson) was a Canadian global payments and lending technology provider serving nearly 8,000 financial institutions, specialty lenders, community banks, credit unions, governments and corporations, including Canada's five largest banks.[3] D+H was headquartered in Toronto, Ontario, and had more than 5,500 employees in 15 countries, with annual revenues in excess of $1.5 billion.[2] Following its acquisition of Harland Financial Solutions in 2013, over a third of D+H's business was based in the US.[4]
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | 1875 (as Davis & Henderson) |
| Defunct | 2017[1] |
| Fate | Bought by Vista Equity Partners and merged with Misys |
| Successor | Finastra |
| Headquarters | Toronto, Ontario , Canada |
Key people | Gerrard Schmid (Chief Executive Officer) Karen Weaver (Chief Financial Officer) William Neville (Chief Operating Officer) |
| Products | Banking technology, payment technology, lending technology, core banking technology |
| Revenue |  US$1,507 million (2015)[2] |
| US$424.7 million (2015)[2] | |
 US$84.0 million (2015)[2] | |
Number of employees | 5,500 |
| Parent | Vista Equity Partners |
| Website | www |
D+H was ranked 21st on IDC Financial Insights's Top 100 FinTech Rankings,[5] and 25th on American Banker's Top 100 Companies in FinTech.[6]
In 2017, D+H was acquired for $4.8 billion by Vista Equity Partners, an American private equity firm.[7] Vista then merged the company with British software provider Misys. The merged company was relaunched in June 2017 and rebranded as Finastra.
History
editIn 1875, D+H was founded as Davis & Henderson, a Canadian manufacturer specializing in bookbinding and printing.[8] By the latter part of the 1890s, Canadian financial institutions began to form a significant portion of D+H's customer base.[9]
In the 1960s, D+H started to produce printed cheques with Magnetic Ink Character Recognition (MICR) encoding and began printing individually personalized bank cheques. It continued to focus on the cheque business through the 1970s and 1980s.[10]
Following a series of acquisitions starting in 2005, D+H shifted its business to providing financial technology services globally. However, a third of D+H's revenue still came from printing and supplying cheques.[4] In 2016, D+H integrated blockchain distributed ledger technology into its payments platform.[11][12]
D+H went public on the Toronto Stock Exchange in January 2011.[13] It acquired Mortgagebot[14] and ASSET Inc.[15] in 2011, Avista Solutions[16] in 2012, Harland Financial Solutions[17] and Compushare[16] in 2013, and Fundtech[18] in 2015.
References
edit- ^ "Launch of Finastra". Finastra. June 14, 2017. Retrieved June 11, 2018.
- ^ a b c d "D+H Announces Fourth Quarter and Full Year 2015 Earnings". D+H. February 23, 2016. Archived from the original on February 2, 2017. Retrieved January 4, 2017.
- ^ Hasselback, Drew (January 31, 2014). "Investors buy into Davis + Henderson's transformational deal". Financial Post. Retrieved January 4, 2017.
- ^ a b Bouw, Brenda (January 20, 2014). "Davis + Henderson: A Canadian play on the U.S. recovery". The Globe and Mail. Retrieved January 4, 2017.
- ^ "IDC Financial Insights FinTech Rankings" (PDF). IDC Financial Insights. September 7, 2016. Archived from the original (PDF) on November 23, 2016. Retrieved January 4, 2017.
- ^ "Top 100 Companies in Fintech". American Banker. 2016. Retrieved January 4, 2017.
- ^ "Former cheque maker DH Corp to be acquired for $4.8 billion | CBC News". CBC. Retrieved 2018-01-23.
- ^ Hahn, Mark. "Another View of Printing Process Control". Printing Impressions. Retrieved 2022-10-22.
- ^ "Davis + Henderson Customer Service Phone Number and Headquarters". Canadian Store Guide. 2019-07-11. Retrieved 2022-10-22.
- ^ "Corporate Information". D+H. Archived from the original on January 23, 2017. Retrieved January 4, 2017.
- ^ Gill, Sarah (February 3, 2016). "D+H adds blockchain capabilities to payments platform". GT News. Retrieved January 4, 2017.
- ^ Lombardo, Hans (February 5, 2016). "D+H Integrates Multi-Chain, Private Blockchain for Banking Customers". All Coins News. Retrieved January 4, 2017.
- ^ "Davis + Henderson Income Fund Completes Corporate Conversion". D+H. January 4, 2011. Archived from the original on January 5, 2017. Retrieved January 4, 2017.
- ^ Gores, Paul (March 24, 2011). "Canadian firm buys Mequon's Mortgagebot for $231.8 million". Journal Sentinel. Retrieved January 4, 2017.
- ^ "D+H Limited Partnership Completes Acquisition of Asset Inc". McMillan LLP. January 18, 2011. Retrieved January 4, 2017.
- ^ a b Van Geem, Dave (October 7, 2013). "Checking In on Davis + Henderson". The Motley Fool. Retrieved January 4, 2017.
- ^ Patel, Zarna (August 16, 2013). "D+H Completes Acquisition of Harland Financial Solutions". Bank Systems & Technology. Archived from the original on January 5, 2017. Retrieved January 4, 2017.
- ^ De Vynck, Garrit (March 30, 2015). "DH Buys Financial Software Maker Fundtech for $1.25 Billion". Bloomberg.com. Bloomberg. Retrieved January 4, 2017.