Moody’s Analytics announced that it has agreed to acquire WebEquity Solutions, LLC. (“WebEquity”), a leading provider of cloud-based loan origination solutions for financial institutions. The acquisition strengthens Moody’s Analytics’ position as a leader in loan origination software and bolsters its suite of award-winning risk management products for banks, insurance companies and corporations.
WebEquity’s hosted platform is used by more than 750 banks and credit unions to originate and manage agriculture, commercial & industrial, commercial real-estate, small business, construction, and land development loans. The company’s products support the work of over 20,000 lending professionals in the U.S., Canada and Australia. Based in Omaha, Nebraska, WebEquity was founded in 1985. The company has approximately 70 employees and produced revenue of nearly $15 million in 2013.
The acquisition will be funded from cash on hand and is expected to be accretive to Moody’s 2016 EPS before amortization of acquired intangible assets. Transaction terms were not disclosed. The acquisition is expected to close in the third quarter.
Source: Moody’s Press Release