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).