White Clarke acquires equipment finance software provider Insyston
UK-based motor and asset finance software specialist White Clarke has acquired a fellow equipment finance software provider in Australia, Insyston.
Founded in 1998, Insyston is an end-to-end asset finance software provider based in Sydney.
Three years ago, it moved its solution to a Software-as-a-Service (SaaS) model and, according to White Clarke, “have had great success, including internationally”.
White Clarke adds that the acquisition supports its expansion plans in the Australian, European and North American equipment finance sectors, and adds to its cloud hosting expertise.
“The Insyston products will provide a powerful complement to the White Clarke’s Calms product suite by adding richer asset finance functionality in areas such as specialist assets, managed services, various funding structures and securitisation,” it explains.
White Clarke’s flagship Calms system is already well-established on the international scene, with users among carmakers’ captive finance companies and financial services groups such as Ford Credit, John Deere Financial, Bawag and Opel Vauxhall Finance.
Meanwhile, one of the company’s main rivals, Sword Apak, was acquired by Sopra Steria recently.