M&A Deal Summary

TD Bank Acquires Layer 6

On January 9, 2018, TD Bank acquired information technology company Layer 6

Acquisition Highlights
  • This is TD Bank’s 1st transaction in the Information Technology sector.
  • This is TD Bank’s 1st transaction in Canada.
  • This is TD Bank’s 1st transaction in Ontario.

M&A Deal Summary
Date 2018-01-09
Target Layer 6
Sector Information Technology
Buyer(s) TD Bank
Deal Type Add-on Acquisition

Target

Layer 6

Toronto, Ontario, Canada
Layer 6, Inc. is an artificial intelligence (AI) company. Layer 6 was founded in 2016 and is based in Toronto, Ontario.

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Buyer(S) 1

Buyer

TD Bank

Toronto, Ontario, Canada
Category Company
Founded 1855
Sector Financial Services
Employees102,853
Revenue 52.9B CAD (2023)
DESCRIPTION
TD Bank branch in Bangor, Maine.
TD Bank branch in Bangor, Maine.

TD Bank and its subsidiaries are collectively known as TD Bank Group (TD or the Bank). TD is a large bank North American bank serving customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank was incorporated in 1855 and is based in Toronto, Canada.

DEAL STATS #
Overall 6 of 10
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 4 of 7
State (Ontario) 1 of 2
Country (Canada) 1 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-26 Nordstrom - Credit Card Receivables Portfolio

United States

Nordstrom - Credit Card Receivables Portfolio which currently totals approximately $2.2 billion in receivables.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Wells Fargo s Canadian Direct Equipment Finance Business

Mississauga, Ontario, Canada

Headquartered in Mississauga, with regional offices across the country, including Montreal and Calgary, Wells Fargo's Canadian Direct Equipment Finance business has a 25-year operating history, which includes the acquisition by Wells Fargo of GE Capital's Canadian Equipment Finance business in 2016. With approximately C$1.5 billion in assets and over 120 employees, Wells Fargo's Canadian Direct Equipment Finance business provides loans and leases covering a full range of commercial equipment for businesses across Canada.

Buy -
Mergr

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