AFS, a provider of commercial loan servicing and loan lifecycle management technology to the financial services industry, acquired Debticate, a provider of loan syndication and sales workflow software for financial institutions.
The acquisition blends AFS’s expertise in loan servicing with Debticate’s front-end loan syndication solutions to create a combined company that delivers an end-to-end syndication platform for financial institutions. Through personalized software and analytics, Debticate’s capabilities, now part of AFS’s platform, provide financial institutions with the tools required to automate and navigate complex loan transactions.
“This acquisition marks an important step forward in AFS’s mission to help financial institutions modernize and simplify the commercial lending lifecycle,” Edward Jenkins, CEO of AFS, said. “AFS has long believed that syndicated lending, from deal origination through servicing, is a strategic area of investment and innovation for our customers. By bringing together AFS’s proven loan servicing expertise with Debticate’s highly regarded syndication and distribution workflow technology, we are creating a more connected offering that will help our customers operate more efficiently and deliver greater value to their clients.”
By accessing the combined product suite, financial institutions will be able to accelerate their ability to successfully originate, process and service complex syndicated transactions.
“We are thrilled to join AFS and begin our new chapter as a combined company,” Bill Jakubowski, CEO of Debticate, said. “For two decades, we have helped financial institutions across North America improve their ability to manage and process syndicated loan transactions from origination through distribution, closing and agency administration. Joining AFS enables us to accelerate our growth and product development strategies.”
Bill Butryn, head of strategy and capital markets at AFS, added, “This combination represents one step of our AFS strategy to provide our clients with a syndicated loan ecosystem enabling the automated exchange of digitized deal and transaction information by connecting agent banks, syndicate members and borrowers. Our customers have been craving this capability and the joining of our two “customer obsessed” organizations will deliver a market changing combination.”
The combined teams will focus on ensuring continuity for customers while advancing the roadmap for more connected, automated syndicated lending capabilities across the full transaction lifecycle.
“I’m excited to welcome Bill Jakubowski and the Debticate team to AFS as we work together to build on this momentum and deliver the next generation of syndicated lending solutions for our customers,” Jenkins said.
Womble Bond Dickinson acted as legal adviser to AFS. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal advisor to Debticate.
