Piteco is buying the principal assets of LendingTools (LT), a small, privately owned US payments software provider, for up to $14.5m in cash. LT operates in the niche area of “correspondent banking”, offering financial institutions an alternative to the Federal Reserve’s FedLine Advantage. The deal provides Piteco with an attractive route into the lucrative US market, which it plans to use to grow its core treasury software solutions. On our updated forecasts, EPS rise by 12
26 Apr 2017
Bold entry into the US marketplace
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Bold entry into the US marketplace
- Published:
26 Apr 2017 -
Author:
Richard Jeans -
Pages:
6
Piteco is buying the principal assets of LendingTools (LT), a small, privately owned US payments software provider, for up to $14.5m in cash. LT operates in the niche area of “correspondent banking”, offering financial institutions an alternative to the Federal Reserve’s FedLine Advantage. The deal provides Piteco with an attractive route into the lucrative US market, which it plans to use to grow its core treasury software solutions. On our updated forecasts, EPS rise by 12