IDS to acquire White Clarke Group in multi-asset class merger deal
Secure finance firm IDS has acquired UK-based White Clarke Group, a provider of multi-asset class secured finance.
Together, the two firms will serve more than 300 companies across North America, Europe, and Asia Pacific.
White Clarke Group provides software tailored towards the automotive and asset finance markets. Its CALMS product range focuses on auto and asset finance.
“Our industry is being disrupted by a global shift in consumption,” says Brendan Gleeson, White Clarke Group CEO.
“Consumers and businesses want utility and outcomes, not ownership. This has created an opportunity for financing firms to tap into emerging technologies.
“As these trends accelerate, these firms will need the support of a global technology vendor that can deliver innovation at scale.
“Combining our companies provides the ability to innovate at the pace of change while delivering exceptional value to our combined customer base.”
Combined, the two firms are set to offer platforms across automotive finance, equipment and asset finance, and working capital.
“Global business has entered a new long-term investment cycle driven by the rapid evolution of technology,” says David Hamilton, CEO of IDS.
“Smart factories, connected-assets (IoT), green-energy, and many other technology innovations will bring about exciting new economic growth opportunities.
“Supporting this fast-changing market need is the motivation for bringing our two great companies together.”
Neither firm has disclosed the financial details of the acquisition.