DJIA38904.04 307.06
S&P 5005204.34 57.13
NASDAQ16248.52 199.44
Russell 20002060.10 8.70
German DAX18163.94 -238.49
FTSE 1007911.16 -64.73
CAC 408061.31 -90.24
EuroStoxx 505013.35 -57.20
Nikkei 22538992.08 -781.06
Hang Seng16723.92 -1.18
Shanghai Comp3069.30 -5.66
KOSPI2714.21 -27.79
Bloomberg Comm IDX102.90 0.64
WTI Crude-fut91.17 0.01
Brent Crude-fut86.57 1.15
Natural Gas1.79 0.00
Gasoline-fut2.79 -0.01
Gold-fut2345.40 33.50
Silver-fut27.50 0.46
Platinum-fut940.60 -5.50
Palladium-fut1007.40 -23.60
Copper-fut423.60 1.85
Aluminum-spot1815.00 0.00
Coffee-fut212.50 5.75
Soybeans-fut1185.00 5.00
Wheat-fut567.25 11.00
Bitcoin67976.00 304.00
Ethereum USD3328.10 56.27
Litecoin98.71 0.69
Dogecoin0.18 0.00
EUR/USD1.0862 0.0007
USD/JPY151.72 -0.02
GBP/USD1.2678 0.0016
USD/CHF0.9044 -0.0014
USD IDX104.28 0.08
US 10-Yr TR4.4 0.091
GER 10-Yr TR2.406 0.007
UK 10-Yr TR4.064 -0.005
JAP 10-Yr TR0.771 -0.004
Fed Funds5.5 0
SOFR5.32 0
Connect News Money news for every market and every facet, every day.
Connect Money Events Live and virtual events bringing together the best of information and networking.
Financial Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Awards View the A-list of money & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for clear, concise news of maximum importance to the financial services industry.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Topics

Direct Investment  + M&As  |  December 6, 2022
Private Equity Firms Centerbridge, Bridgeport Close $1.6B CSI Acquisition
By: Joe Palmisano

Private Equity Firms Centerbridge, Bridgeport Close $1.6B CSI Acquisition

Centerbridge Partners L.P. and Bridgeport Partners have closed their previously announced acquisition of fintech solutions provider Computer Services, Inc. (CSI) valued at $1.6 billion.

Announced in August, the private equity firms purchased CSI for $58 per share, in an all-cash deal. The price is a 53% premium to CSI’s closing stock price on August 19, 2022, the last day before the agreement was announced, and a premium of 54.4% over CSI’s 30-day volume-weighted average share price (VWAP).

CSI is now a private company, with its common shares delisted.

CSI offers core processing, digital banking, cybersecurity, compliance, payments processing, and document distribution solutions to financial institutions and corporates.

The company continues its operations from its headquarters in Paducah, Kentucky, with no changes to the leadership team, including the CEO and president David Culbertson.

Bridgeport founder Frank Martire was appointed as board chairman, while Centerbridge senior managing director Jared Hendricks, and managing director Ben Jaffe were appointed as board members.

Established in 2005, Centerbridge has approximately $36 billion in assets under management as of September.

Connect

Inside The Story

Centerbridge PartnersBridgeport PartnersComputer Services, Inc.

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.