NASHVILLE, Tenn. Credit union clients of Harland Financial Solutions got their first introduction to Davis + Henderson, the Toronto-based company better known as D+H that is spending $1.2-billion to acquire Harland, during the company’s annual Connections Conference here.
D+H is the parent of Mortgagebot, Avista Solutions and Compushare. When the Harland acquisition is complete it will have relationships with more than 6,200 credit unions and banks in North America.
Harland President/CEO Raj Shivdasani said Harland, which saw revenue rise to $317 million (14%) over the 12 months ended June 30, will be joining with another company in D+H with which it has a “shared vision.” “From very beginning it was obvious to me we were aligned completely in vision and values,” he said. “We are moving from an equity owner to a strategic owner.”
Gerrard Schmid, CEO of D+H, told the meeting that Harland “has some compelling products that we don’t have. Product overlap is almost nonexistent. The combination of these two companies is more powerful than the two companies alone.”
Shivdasani told credit unions and banks at its meeting here the purchase of Harland was not made with a goal of creating ROI by cutting costs. “The synergies are largely related to crating new revenue opportunities,” he said.
