AUSTIN, Texas--(BUSINESS WIRE)-- Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending, today announced a definitive agreement to acquire Lender Performance Group LLC (“PrecisionLender”) in a cash transaction valued at approximately $510 million, subject to certain closing conditions. Based in Charlotte, North Carolina, PrecisionLender is one of the fastest growing enterprise SaaS providers of data-driven sales enablement, pricing and portfolio management solutions for financial institutions (FIs)globally.
PrecisionLender’s innovative data-driven platform is enhanced by Andi®, a digital enterprise coach powered by machine learning. PrecisionLender’s market-proven platform is used by approximately 150 banks globally to structure and negotiate commercial lending transactions, providing Andi with access to pricing and profitability data on millions of customer relationships and more than $1.7 trillion of transactions annually. With this unparalleled data, Andi® empowers bankers with actionable, real-time, data-driven insights and coaches commercial bankers to achieve better outcomes for their banks and their customers.
“The combination of PrecisionLender, Cloud Lending and our expanding corporate banking capabilities position Q2 as the leader in digital transformation solutions for commercial banking,” said Matt Flake, CEO of Q2. “We are excited to help our customers use our combined data insights to build lasting relationships with their customers and are thrilled with the outstanding leadership, culture and talent that PrecisionLender will bring to the Q2 family.”