Privately-held Open Solutions Inc., a provider of data processing technologies for financial institutions, has announced that it will acquire Richmond-based competitor Fincentric Corp. for an undisclosed amount.
The company said the acquisition will expand Open Solutions' product offerings and market share in Canada and internationally.
Fincentric, which will become part of Open Solutions Canada, provides retail banking and customer management software for financial institutions.
The deal is expected to close in 30 to 45 days, subject to shareholder approval.