May 29, 2024

Mergers & Acquisitions

MeridianLink Acquires OpenClose

MeridianLink Buys OpenClose For An Undisclosed Amount

In what comes across as an interesting development, MeridianLink, a company that provides cloud-based solutions, has purchased OpenClose, a Fintech firm that deals with home mortgage software products. The financial part of the deal remains under wraps.

MeridianLink Mortgage clients will now be able to obtain OpenClose’s solutions and start providing digital lending facilities to their clients with minimal cost to the company. MerdianLink’s business expansion endeavors will indeed benefit from the buyout.

Workflow-driven software solutions from OpenClose and MeridianLink Mortgage include digital lending systems, POS, product as well as pricing engines, along with business intelligence capabilities that are viewable from every browser or smartphone. OpenClose, which was established in 1999, asserts that its SaaS framework has seen “strong” YoY growth as more and more financial companies are investing in lending/ loan technology.

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The Chief Executive Officer of MeridianLink, Mr. Nicolas Vlok, stated that the joint strength of these two companies would allow them to provide quick and smooth mortgage loan facilities to clients and customers right from the time of application to the closing of the loan.

MeridianLink, headquartered in California offers cloud-based software solutions not just to banks but also to mortgage lenders, credit unions, speciality lenders, among others. It’s services reach over 1,900 customers.

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