D+H

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]

D+H

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]
Operating income	US$424.7 million (2015)[2]
Net income	US$84.0 million (2015)[2]
Number of employees	5,500
Parent	Vista Equity Partners
Website	www.dh.com

D+H office in Markham, Ontario

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

In 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.