international news
unGard has announced the acquisition of PredictiveMetrics, a predictive scoring and analytical service for trade credit, debt collections, utilities and other markets. The acquisition will help extend SunGard’s AvantGard suite of receivables solutions to offer statistical scoring services. These applications help organizations analyze the creditworthiness and likelihood of delinquency. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.
Michael Banasiak, president of PredictiveMetrics, said, “Being part of SunGard will help us offer increased flexibility and choice to the credit and
SunGard gets PredictiveMetrics > IN BRIEF S
collections community. We are very pleased to expand into new areas such as trade credit liquidity in order to deliver more sophisticated solutions for optimized liquidity management.” Banasiak will join SunGard as part of the AvantGard team. C.J. Wimley, executive vice president, trade credit liquidity solutions for SunGard’s AvantGard business unit, said, “The acquisition of PredictiveMetrics is a strategic step forward in our long-term plan to help companies manage their receivables as a capital investment. Performing predictive analytics across the receivables portfolio helps companies mitigate corporate credit risk and gain valuable insight for improved decision-making.”
DLA Piper merger D
LA Piper is reportedly to merge with an Australian law firm DLA Phillips Fox, with whom it has been working for several years, in a deal it believes will create the world’s biggest business law firm by revenues and number of lawyers. The firm must get approval for the deal from 75 percent of its partners. The deal is expected to complete in May and will create a business in the Asia-Pacific region with 700 lawyers and annual revenues of £195 million ($310 million). DLA Piper, which generates annual revenues of about 1.4 billion has a presence in 30 countries, with 70 offices, and 4,000 lawyers. The Australian merger underlines the continued international expansion of UK law firms, which are opening offices around the world to cater
GE CAPITAL TARGETS AUSTRALIA GE Capital says it is planning to expand its Australian finance operations as local banks take a tougher approach to lending to SMEs, according to local reports. GE Capital could also looking to expand in the mid-level corporate finance business as well as lending for car fleets, distribution businesses, and agricultural and mining equipment. Australia is one of seven growth areas for the GE, which includes energy,
finance, aircraft engines and
industrial goods, as it has reassessed its strategy since the global financial crisis. GE chairman and chief executive Jeff Immelt is due to visit Australia again soon, his second visit in less than a year, as well as increasing visits by other senior executives. Australia is very much seen by GE as one of its big growth markets, because of the size of its markets, and range of financing opportunities.
to large corporate clients doing complex, cross-border deals.
In recent years, “magic circle” law firms like Linklaters and Clifford Chance have shrugged off the impact of the downturn far better than their smaller UK-based rivals because they have enjoyed strong performances in the Middle East and Asia. As Sir Nigel Knowles, co-chief executive of DLA Piper, said, “We have a vision to be a global business law firm and clients are being more global. We want to be in G20 nations like Australia with its links to markets like China.”
DLA Piper was created in 2005 by the merger of DLA, Piper Rudnick and Gray Cary and has since expanded aggressively in Germany, Spain, Asia, the Middle East and the US.
Boeings cancelled D
ubai Aerospace Enterprise has cancelled an order for 32 of its best- selling single-aisle 737 aircraft. Boeing spokesman Doug Alder confirmed the name yesterday after Boeing first announced the cancellation without identifying the customer. He said Dubai Aerospace Enterprise, an ambitious, mainly aircraft leasing business launched in February 2006 and partly owned by
March 2011 ■
www.leasingworld.co.uk
CSI WELCOMES ACADEMIC CSI Leasing Inc. Has announced that Dennis Stephans and the employees of Academic Capital Group Inc., a Chicago-based firm specializing in lease financing for municipalities, government and educational institutions, have joined CSI. Stephans and his team will operate as a new division of CSI called CSI Government and Education Finance and will continue to be based in Chicago. “This is a continuation of our expansion and diversification plan announced in 2010,” said Steve Hamilton, president and chief operating officer of CSI. The new division will report to Cliff Svoboda, senior vice president of CSI. “This is exactly the situation we have been interested in for several years,” Stephans,
said
Academic Capital. communications,
founder and president of CSI leases IT, energy
medical, production and other equipment.
the crisis-strapped government of Dubai's investment arm, still has 56 orders on Boeing's books. Airplane orders from DAE have been in question since the 2009 Dubai financial crisis. “Most of the DAE orders have been dead in reality for a couple of years now,” said Teal Group aerospace analyst Richard Aboulafia. “I simply wouldn’t bank on any of their orders.”
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