Q2 Holdings acquired Cloud Lending, Inc. for $105.0 million (cash), a transaction announced in October 2018.
Acquired the San Mateo, California-based SaaS provider of an end-to-end digital lending and leasing platform, expanding Q2 into loan origination and servicing. Total consideration was $105.0 million (including a $10.5 million escrow).
Acquired the San Mateo, California-based SaaS provider of an end-to-end digital lending and leasing platform, expanding Q2 into loan origination and servicing. Total consideration was $105.0 million (including a $10.5 million escrow).
The acquisition of Cloud Lending will enhance Q2's ability to deliver advanced digital solutions to financial institutions, alternative finance and leasing companies that help them improve their customers' borrowing experiences.
Advisory firms were not disclosed for this transaction.