IRVINE, Calif.–MeridianLink, Inc., which provides account opening and lending solutions to numerous credit unions, said it will be acquired by Centerbridge Partners in a $2 billion all-cash transaction, valuing the company at $20 per share — a 26% premium over its pre-announcement closing price.
Upon closing of the transaction, MeridianLink said it will become a private company. The company’s MeridianLink One platform focuses on streamlining and automating lending processes across various sectors, including mortgage.
Earlier Acquisition
The MeridianLink Mortgage LOS — originally acquired through its 2018 purchase of LendingQB — maintains a strong footprint among credit unions and community banks, serving nearly 2,000 financial institutions nationwide, according to the company. It said the fully digital, cloud-based platform reportedly has helped some lenders double loan volume and boost underwriting productivity.
Centerbridge, a global investment firm with $43 billion in assets under management, said it plans to leverage its capital to accelerate MeridianLink’s innovation and expand the company’s product capabilities.
