Q2 Enters in Agreement to Acquire Cloud Lending Solutions
Summary
Digital banking solutions provider, Q2 Holdings, Inc. (NYSE: QTWO) has entered in an agreement to acquire California-based Cloud Lending, Inc., a privately-held SaaS company that provides an integrated end-to-end lending and leasing platform. The company reported that its integrated front-to-end lending platform leaders can simply their entire lending experience, accelerate loan processing and revenues, and reduce operational inefficiencies through automation and configurations. Speaking about the acquisition, Matt Flake, CEO of Q2, stated: “By acquiring Cloud Lending, we will be able to help our community and regional financial institutions more effectively manage and grow their lending portfolios—their fundamental income-generating activity. This partnership means more lenders will provide greater access to credit for more people and businesses across the globe. Cloud Lending’s team members are excited to partner with Q2 and to continue delivering on our proven track record of innovation in digital lending and leasing.” The closing of the transaction is expected to occur in the fourth quarter 2018.
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