Open Solutions To Acquire Fincentric

Open Solutions Inc., a Glastonbury, Conn.-based provider of integrated data processing technologies for financial service providers, has agreed to acquire Fincentric Corp., a Richmond, British Columbia-based provider of core retail banking and customer value management software to the global financial services industry. No financial terms were disclosed for the deal, which is expected to close within the next 45 days. Open Solutions is owned by Carlyle Group and Providence Equity Partners, while Fincentric raised over $10 million in VC funding between 1997 and 2000 from Battery Ventures, BancBoston Ventures, HarbourVest Partners and Ventures West.