Announced
Completed
Financials
Tags
Acquisition
Friendly
Private
Financial Data and Systems
cash solution
insured sweep platform
United States
Domestic
Majority
Single Bidder
Completed
Synopsis
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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