IDS, a provider of asset and equipment finance technology, completed the acquisition of William Stucky and Associates (WSA), a provider of asset-based lending and factoring software. The combination of the two companies creates a cloud-based technology platform providing secured finance solutions to customers and financial firms globally.
“IDS is committed to delivering value to our customers through world-class products that support their evolving business needs,” David Hamilton, CEO at IDS, said. “We have acquired WSA to broaden our IDScloud offering with best-in-class ABL and factoring solutions. Expanding our solution portfolio will help our customers deliver a more holistic set of working capital and equipment financing solutions to their customers.”
As global markets recover from the COVID-19 pandemic and companies begin to invest in growth and expansion initiatives, they will look to their financial services partners to provide a range of working capital solutions that best fit their credit needs and business strategies. The combination of IDS and WSA will provide IDScloud customers the ability to offer a range of secure, cloud-based financial products to their customers. The expanded IDScloud solution portfolio will encompass:
- Deal management (origination, pricing)
- Asset and equipment finance (lease and loan)
- Vendor financing
- Asset-based lending (loan management, credit monitoring, borrower portal)
- Receivables financing
- Factoring (recourse and non-recourse)
- Purchase-order financing
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“WSA’s focus has been on consistently helping customers grow through the use of technology solutions that make their business life easier and more secure,” William Stucky, founder and CEO of William Stucky and Associates, said. “IDS’ complementary portfolio and strong technology focus make it a perfect home for the Stucky ABL and factoring solutions. Together, through the combination of software and services, customers will continue to receive the industry leading support and technology required to grow in the evolving market landscape.”
IDS has invested in building a software-as-a-service (SaaS) platform to serve the equipment finance industry’s needs. Following the acquisition of WSA and by leveraging the capabilities of IDScloud, IDS is now able to provide customers SaaS-based ABL and factoring solutions in the scalable, pay-only-for-what-you-use IDScloud platform.
