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19 January 20212 minute read

DLA Piper Canada advised Tier1 Financial Solutions‎‎ on its acquisition of Alessa

On January 14, 2021, Tier1 Financial Solutions (“Tier1”), a leading provider of client relationship management (“CRM”) solutions‎, announced that it had acquired Alessa, a compliance and financial crime prevention solution‎ software company‎. DLA Piper (Canada) LLP acted as legal advisor to Tier1 on this transaction.

The acquisition positions Tier1 to significantly grow its portfolio of solutions to meet its ambitious goal ‎to digitally transform processes within organizations for greater client insights, revenue protection, ‎regulatory compliance and AI-driven automation. Terms of the transaction were not disclosed.‎

Tier1 is a Toronto-based company providing CRM software for capital markets and investment banking. Alessa is an industry-recognized software solution that is used by banks, credit unions, money services businesses (MSBs), casinos and fintechs for compliance to global anti-money laundering (AML) regulations.

The DLA Piper Canada deal team was led by Ted Maduri and included Mackenzie Clark, Youssef Aziz, Bruce E. Darlington (Banking), Duncan Ross Burns-Shillington (Employment), David Spratley (IP), Michael S. Richards (Employment) and Kevin F. Fritz (Tax).