Latest news with #MeridianLink
Yahoo
an hour ago
- Business
- Yahoo
Software firm MeridianLink to go private in $2 billion deal with Centerbridge
By Arasu Kannagi Basil (Reuters) -U.S. financial software provider MeridianLink said on Monday it would be acquired by investment firm Centerbridge Partners in a $2 billion deal, taking it private roughly four years after its New York debut. Optimism around potential rate cuts and easing economic uncertainty amid progress on trade deals have laid the groundwork for a pickup in private-equity buyouts. Dealmaking appetite for software businesses has also remained robust this year. MeridianLink shareholders will receive $20 apiece in cash for each share held, implying a 26% premium to the stock's last close. Shares of the Irvine, California-based company, which powers digital lending and account opening for financial institutions, jumped 24% in afternoon trading. "Industry consolidation has been a key theme in fintech and we view the multiple as reasonable," said William Blair analyst Cristopher Kennedy. "We have long held the belief that MerdianLink would represent an attractive asset as the company generates strong EBITDA margins at around 40%." The deal also highlights the growing trend of money managers seeking strategic control of technology companies driving digital transformation in financial services. Centerbridge is also not new to the fintech space, having acquired bank tech firm CSI in a $1.6 billion deal in 2022. "As the pace of change across the finance and tech sectors continues to accelerate, MeridianLink is uniquely positioned to help financial institutions enhance their digital lending and credit reporting capabilities," said Centerbridge's Jared Hendricks and Ben Jaffe. Founded in 1998, MeridianLink caters to nearly 2,000 community financial institutions and reporting agencies. Its revenue rose 8% to $84.6 million during the three months ended June 30, while net loss narrowed to $3 million. Centerview Partners and J.P. Morgan are advisers to MeridianLink on the deal, which is expected to close in the second half of 2025. Goldman Sachs is advising Centerbridge.
Yahoo
12 hours ago
- Business
- Yahoo
MeridianLink agrees to $2bn acquisition by Centerbridge Partners
US software company MeridianLink has announced a definitive agreement for its acquisition by funds managed by affiliates of Centerbridge Partners. The transaction, valued at approximately $2bn, will result in MeridianLink becoming a private entity upon completion and will continue to be based in Irvine, California. MeridianLink offers software solutions for financial institutions and consumer reporting agencies. Its cloud-based solutions for digital lending, account opening, background screening, and data verification utilise shared intelligence from a unified data platform, MeridianLink One. The platform is said to enable clients of various sizes to uncover growth prospects, scale operations effectively, and maintain compliance, all while enhancing the experience for both staff and consumers. MeridianLink president and CEO Larry Katz said: 'Together with Centerbridge, we will unlock the potential of this company by accelerating product innovation, harnessing the power of AI and data, and enhancing the delivery of exceptional customer experiences.' According to the terms of the agreement, shareholders of MeridianLink will receive $20 per share in cash for each share of common stock held. This purchase price reflects a premium of around 26% over the closing price of MeridianLink shares on 8 August 2025. The transaction is anticipated to close in the latter half of 2025, pending approval from MeridianLink shareholders and the fulfilment of regulatory approvals and customary closing conditions. Centerbridge senior managing director Jared Hendricks and managing director Ben Jaffe said: 'As the pace of change across the finance and tech sectors continues to accelerate, MeridianLink is uniquely positioned to help financial institutions enhance their digital lending and credit reporting capabilities to expand and deepen client relationships, unlock the potential of data and AI, and drive their growth.' Centerview Partners is acting as the lead financial advisor and Goodwin Procter is providing legal counsel to MeridianLink. J.P. Morgan Securities also served as a financial advisor to the company. Joele Frank, Wilkinson Brimmer Katcher is advising on strategic communications for MeridianLink. Goldman Sachs is serving as the financial advisor for Centerbridge, with Kirkland & Ellis acting as its legal advisor. Kekst CNC is providing strategic communications support to Centerbridge. "MeridianLink agrees to $2bn acquisition by Centerbridge Partners" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
MeridianLink to Be Taken Private by Centerbridge in $2 Billion Buyout Deal
MeridianLink (MLNK) on Monday agreed to be acquired and taken private by funds advised by affiliates Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
a day ago
- Business
- The Star
Software firm MeridianLink to go private in $2 billion deal with Centerbridge
U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) -U.S. financial software provider MeridianLink said on Monday it would be acquired by investment firm Centerbridge Partners in a $2 billion deal, taking it private roughly four years after its New York debut. Optimism around potential rate cuts and easing economic uncertainty amid progress on trade deals have laid the groundwork for a pickup in private-equity buyouts. Dealmaking appetite for software businesses has also remained robust this year. MeridianLink shareholders will receive $20 apiece in cash for each share held, implying a 26% premium to the stock's last close. Shares of the Irvine, California-based company, which powers digital lending and account opening for financial institutions, jumped 24% in afternoon trading. "Industry consolidation has been a key theme in fintech and we view the multiple as reasonable," said William Blair analyst Cristopher Kennedy. "We have long held the belief that MerdianLink would represent an attractive asset as the company generates strong EBITDA margins at around 40%." The deal also highlights the growing trend of money managers seeking strategic control of technology companies driving digital transformation in financial services. Centerbridge is also not new to the fintech space, having acquired bank tech firm CSI in a $1.6 billion deal in 2022. "As the pace of change across the finance and tech sectors continues to accelerate, MeridianLink is uniquely positioned to help financial institutions enhance their digital lending and credit reporting capabilities," said Centerbridge's Jared Hendricks and Ben Jaffe. Founded in 1998, MeridianLink caters to nearly 2,000 community financial institutions and reporting agencies. Its revenue rose 8% to $84.6 million during the three months ended June 30, while net loss narrowed to $3 million. Centerview Partners and J.P. Morgan are advisers to MeridianLink on the deal, which is expected to close in the second half of 2025. Goldman Sachs is advising Centerbridge. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
CNA
a day ago
- Business
- CNA
Software firm MeridianLink to go private in $2 billion deal with Centerbridge
U.S. financial software provider MeridianLink said on Monday it would be acquired by investment firm Centerbridge Partners in a $2 billion deal, taking it private roughly four years after its New York debut. Optimism around potential rate cuts and easing economic uncertainty amid progress on trade deals have laid the groundwork for a pickup in private-equity buyouts. Dealmaking appetite for software businesses has also remained robust this year. MeridianLink shareholders will receive $20 apiece in cash for each share held, implying a 26 per cent premium to the stock's last close. Shares of the Irvine, California-based company, which powers digital lending and account opening for financial institutions, jumped 24 per cent in afternoon trading. "Industry consolidation has been a key theme in fintech and we view the multiple as reasonable," said William Blair analyst Cristopher Kennedy. "We have long held the belief that MerdianLink would represent an attractive asset as the company generates strong EBITDA margins at around 40 per cent." The deal also highlights the growing trend of money managers seeking strategic control of technology companies driving digital transformation in financial services. Centerbridge is also not new to the fintech space, having acquired bank tech firm CSI in a $1.6 billion deal in 2022. "As the pace of change across the finance and tech sectors continues to accelerate, MeridianLink is uniquely positioned to help financial institutions enhance their digital lending and credit reporting capabilities," said Centerbridge's Jared Hendricks and Ben Jaffe. Founded in 1998, MeridianLink caters to nearly 2,000 community financial institutions and reporting agencies. Its revenue rose 8 per cent to $84.6 million during the three months ended June 30, while net loss narrowed to $3 million. Centerview Partners and J.P. Morgan are advisers to MeridianLink on the deal, which is expected to close in the second half of 2025. Goldman Sachs is advising Centerbridge.
