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New Deal


Announced

Completed

Webster Financial completed the acquisition of StoneCastle Insured Sweep from StoneCastle Partners.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Friendly

Private

Financial Data and Systems

cash solution

insured sweep platform

United States

Domestic

Majority

Single Bidder

Completed

Synopsis

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Webster Financial, an American commercial bank based in Stamford, Connecticut, completed the acquisition of StoneCastle Insured Sweep, a technology-enabled deposit management platform, from StoneCastle Partners, a provider of banking and associated technologies. Financial terms were not disclosed. "The acquisition complements our strategy to build a bank with diverse funding capabilities and technology-enabled businesses. interLINK is a unique deposit channel that provides a scalable source of liquidity for the company," John Ciulla, Webster Financial President and CEO.

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