The completion of this transaction is subject to the completion by Linedata of some additional due diligence work.
The parties plan to close the transaction during the third quarter of 2011.
The acquisition of Fimasys will be financed by cash on hand for approximately 90% of the consideration and by Linedata shares held by the company for the remainder. The amount of the consideration has not been disclosed.
Linedata founder and CEO Anvaraly Jiva said having rubbed shoulders for a number of years and shared some prestigious clients in the credit finance and employee savings areas, their teams know each other well and have developed a clear, shared understanding of their respective strengths and complementarities, both from a product coverage and technology point of view.
"I have no doubt that these synergies will enable us to grow our presence in France and internationally to better serve our clients," Jiva said.
