First announced in April, IDS has now completed the acquisition of UK-based White Clarke Group, announced today (01 June 2021). The financial terms of the deal have not been disclosed.
IDS is a U.S.-based leader in the provision of enterprise mission-critical solutions for secured finance. The purchase of White Clarke Group, which provides software solutions and consultancy services to more than 100 of the world’s largest banks, captives and independent finance organizations in 30 countries around the globe, makes the combined new business a “software technology powerhouse” serving the $7 trillion secured finance industry globally.
The combined companies can now offer secure finance products and services across Automotive Finance, Equipment and Asset Finance, and Asset-based Lending and Factoring.
David Hamilton, CEO of IDS, comments on the acquisition:
“Bringing our two companies together accelerates our ability to innovate at scale and better serve our combined global customer base with a comprehensive portfolio of market-leading secured finance solutions. “Together, we provide the industry’s most talented and experienced team of secured finance experts to ensure our customers’ success globally.
“The fast-paced world of technology – from smart manufacturing to the Internet of Things (IoT) to sustainable energy – is bringing about emerging technologies, new funding models and exciting new economic growth opportunities. These opportunities will increasingly require access to capital from secured finance firms. Drawing from our combined strengths, IDS is now more agile and better positioned to capitalize on these market trends and innovate at the pace of change as we support the accelerated growth of digital transformation, service-centric business models and mobility in our industry.”
IDS has been in acquisitive mood this year, acquiring asset-backed lending firm William Stucky and Associates (WSA) for its portfolio in February.
Originally posted on Global Fleet Management