IDS, White Clarke Group join forces to create a secured finance technology powerhouse
IDS, a leader in enterprise mission-critical solutions for secured finance, has agreed to acquire White Clarke Group, a leading provider of retail, fleet, wholesale and asset finance solutions for the automotive and equipment finance markets. The two companies combine to create a multi-asset class secured finance technology powerhouse supporting banks, independents, OEM captives and specialty finance firms globally. Together, the combined company will serve more than 300 customers across North America, Europe and Asia Pacific and will be co-headquartered in Minneapolis, MN and Milton Keynes, U.K.
“Global business has entered a new long-term investment cycle driven by the rapid evolution of technology,” commented 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 which will require access to capital from secured finance firms. With a comprehensive and flexible technology foundation, these finance providers will be able to support new funding models accelerating the move to digital, servitization, and mobility. Supporting this fast-changing market need is the motivation for bringing our two great companies together creating an unmatched range of secured finance solutions and the ability to support customers globally.”
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