MeridianLink Acquires Mortgage Fintech OpenClose for $65 Million

Listed Lending Software Company meridian link got opening and closingis a fintech company specializing in mortgage software solutions for banks, credit unions and mortgage lenders.

In a statement filed with Securities and Exchange CommissionMeridianLink said it will pay $65 million in cash Acquisition of a Florida-based company.

MeridianLink CEO Nicolaas Vlok said in a statement:

As part of the integration, MeridianLink’s mortgage customers will have access to OpenClose’s POS system called Consumer Assist. In this regard, OpenClose customers can use MeridianLink’s loan pricing engine. This engine can run mortgage insurance pricing, an integrated rate engine, and comparison reports in parallel.

The announcement comes on the heels of MeridianLink, which is owned by the private equity giant. Thomas Bravothat post Quarterly resultsThe company posted revenue of $71.8 million in the third quarter and gross profit of $44 million. MeridianLink told investors that 21% of its total revenue was related to the mortgage market, down from 29% in the third quarter of 2021.

MeridianLink has been acquisition-hungry for the past year. April, Meridian Link Paid about $28 million get street share, providing lending technology to banks and credit unions.Also obtained tazworksa platform for background screening, and Seilent TechnologiesPayment Solutions Vendor, last two years.

Headquartered in Costa Mesa, Calif., MeridianLink says it serves more than 1,900 customers.

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