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It’s the first major acquisition for the Toronto-based banking software provider since Swedish private equity firm Nordic Capital took control in 2024. (The Logic)
Talking point: The deal came with an undisclosed nine-figure price tag in U.S. dollars. California-based Naehas provides software that helps banks deliver personalized digital marketing offers while meeting regulatory requirements. Zafin CEO Charbel Safadi told The Globe and Mail the deal will expand his company’s reach to 16 of the 20 largest U.S. banks. Zafin, which counts CIBC, HSBC and Barclays among its clients, has more than doubled sales since Nordic Capital’s takeover and expects to reach US$200 million in annual recurring revenue by year-end. It has also expanded its focus on AI, recently launching a platform to govern autonomous AI agents in financial institutions. Safadi said Zafin could make up to three smaller acquisitions over the next year.
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