M&A Deal Summary

MeridianLink Acquires OpenClose

On November 7, 2022, MeridianLink acquired information technology company OpenClose

Acquisition Highlights
  • This is MeridianLink’s 3rd transaction in the Information Technology sector.
  • This is MeridianLink’s 4th transaction in the United States.
  • This is MeridianLink’s 1st transaction in Florida.

M&A Deal Summary

Date 2022-11-07
Target OpenClose
Sector Information Technology
Buyer(s) MeridianLink
Deal Type Add-on Acquisition

Target

OpenClose

West Palm Beach, Florida, United States
OpenClose is a fintech provider of residential mortgage software solutions for banks, credit unions, and independent mortgage lenders. Today, the company's comprehensive loan origination software helps customers cut the cost to manufacture loans while reducing processing and underwriting cycle times. OpenClose was formed in 1999 and is based in West Palm Beach, Florida.

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Buyer(S) 1

Buyer

MeridianLink

Costa Mesa, California, United States

Category Company
Founded 1998
Sector Software
Revenue 316M USD (2024)
DESCRIPTION

MeridianLink provides mission-critical software solutions to financial institutions. The company’s LoansPQ, LendingQB, and ACTion platforms allow banks and credit unions to process and accept consumer and mortgage loans as well as account opening applications, and integrate seamlessly with all major core and data services providers. It also offers Synergy, a highly customizable and configurable loan processing and decisioning workflow product, as well as MortgageCreditLink, the dominant provider of “tri-merge” integration functionality into credit bureaus and other third-party consumer and business databases. MeridianLink was formed in 1998 and is based in Costa Mesa, California.


DEAL STATS #
Overall 4 of 4
Sector: Information Technology M&A 3 of 3
Type: Add-on Acquisition M&A Deals 4 of 4
State: Florida M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-10 StreetShares

Reston, Virginia, United States

StreetShares is a small business banking software-as-a-service (SaaS) technology company that powers community banks, credit unions, and non-financial organizations. Its Atlas Platform offers a full suite of digital, white-labeled, small business banking products to their customers. StreetShares was founded in 2014 and is based in Resotn, Virginia.

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