Solifi strengthens Open Finance Platform with DataScan deal
DataScan provides wholesale loan servicing, inventory audits, digital risk management to over 45 banks and captives
Solifi, a global provider of secured finance technology, has acquired DataScan, a North American leader in wholesale finance and inventory risk management, the company announced today.
Founded in 1989 and based in Alpharetta, Georgia, DataScan provides wholesale loan servicing, inventory audits and digital risk management tools to more than 45 banks and captive lenders.
The deal expands Solifi’s automotive solutions and strengthens its Open Finance Platform, which connects lenders, dealers and partners through cloud-based technology, according to the company. By integrating DataScan’s wholesale lending and audit tools, Solifi said it will deliver more accurate risk insights, lower costs and improved operational efficiency.
“This acquisition underscores Solifi’s commitment to innovation, expertise and leadership,” Solifi Chief Executive Dan Corazzi said in the relesae. “DataScan brings proven automotive wholesale, floorplan and risk audit capabilities that strengthen our Open Finance Platform and support our vision of being a leader across equipment, auto, wholesale and working capital finance.”
DataScan will operate as “DataScan by Solifi.” Its chief executive, Brian Koprowski, will remain president and general manager, joining Solifi’s executive leadership team.
“Joining Solifi marks an exciting new chapter for DataScan and our customers,” Koprowski said. “Our customers can expect continuity in the solutions and service they trust today, while also gaining the benefits of Solifi’s global reach, scale and investment in cloud and AI innovation.”
Customers of both companies will maintain existing service agreements. The combined roadmap calls for accelerating digital audit innovation through DataScan’s RiskGauge product and expanding wholesale finance solutions into global markets.
Legal counsel for the deal was provided by Goodwin Procter LLP for Solifi and Kirkland & Ellis LLP for DataScan. TD Securities served as Solifi’s exclusive financial adviser. Terms of the transaction were not disclosed.
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