HPD Software acquires ABL Software business in the USA
HPD Software announces their acquisition of the ABL software business of Computer and Software Enterprises Inc. (CASE), a leading provider of Asset Based Lending (ABL) monitoring solutions in the USA. The acquisition will provide a wide range of benefits for those banks currently using ABLE in the USA and for HPD Software worldwide clients. Additionally the transaction provides the base for accelerating HPD Software’s growth in the North American market. HPD plans to retain all CASE’s current staff in San Luis Obispo, California.
ABLE (Asset Based Lending Environment) is a full featured ABL monitoring package with extensive integration from new client setup right through to monitoring booked deals. ABLE provides the automation necessary to support continuous tracking of every loan position in a portfolio, regardless of structure or complexity. ABLE’s customers include some of the largest Banks in the ABL market.
ABLE provides comprehensive analysis of portfolio performance and position across an unlimited number of categories at the loan, region and global level. The scope of this monitoring and reporting, unrivalled by any other software, enables lenders to quickly evaluate individual client relationships.
Karen Benson, chief operating officer and corporate Vice President of CASE, said: “This is an exciting stage in the development of ABLE. We look forward to joining HPD’s team and enhancing our offerings and customer support within the global framework of HPD Software.”
Kevin Day, chief operations officer at HPD Software, said: “We are delighted to welcome Karen and her colleagues to the growing international team at HPD Software. ABLE has all the key components that meet the needs of ABL lenders in the US and there are clear synergies between ABLE and our own flagship platform, Aquarius. We look forward to building upon and developing ABLE in North America and establishing our presence further in that market to the benefit of all of our clients.”