Canada’s League Data acquires Technicost

Credit union technology partner League Data has acquired Canadian credit management solutions provider Technicost from Co-operators Financial Services.

The deal, effective January 1, 2024, will see Technicost operate as an independent entity as part of League Data.

As such, Technicost’s current management team and employees will remain in place, while it will be “business as usual” for clients and partners.

Technicost has been providing loan origination systems to Canadian credit unions since 1982, and has been part of the Co-operators group of companies since 2019.

League Data CEO Carrie Forbes

Carrie Forbes, chief executive officer of League Data, said: “Our shared co-operative values make this venture a natural fit for our organizations.

“The acquisition will allow Technicost continued growth with their product offering, as well as providing an opportunity for both companies to scale technology, resources and credit union collaboration.”

“We’ve worked hard to successfully build Technicost and are proud of our achievements in the creditor space,” added Brad George, president of Technicost.

“In partnership with League Data, we look forward to further streamlining and enhancing the technology services offered to Canadian credit unions.”

The financial terms of the deal have not been disclosed.

Further reading: League Data’s Carrie Forbes on the need for stronger data rights for Canadians.