Private equity firms Centerbridge Partners (Centerbridge) and Bridgeport Partners (Bridgeport), have completed their acquisition of Computer Services, Inc (CSI), a provider of end-to-end fintech and regtech solutions, for $1.6 billion.

The acquisition, which was previously announced on 22 August, 2022, closed in an all-cash transaction with a purchase price of $58.00 per share. CSI’s shareholders approved the transaction on 9 November, 2022, and the company is now a private entity. Its stock is no longer be listed on the OTCQX market.

Centerbridge and Bridgeport say the acquisition will allow CSI to advance its technologies for the public cloud, accelerate speed-to-market and increase the scalability of its solutions. It will also supports the advancement of CSI’s mission to become a leading provider of regtech and fintech resources through expanded investment in research and development, complementary product partnerships and strategic acquisitions.

Read more: Private Equity Wire