Palisades Technology Partners to be Acquired by IBM

IBM has announced a definitive agreement to acquire Palisades Technology Partners, a provider of technology and services for the mortgage lending industry.  According to the announcement, this acquisition builds upon IBM's strategy to leverage business consulting, IT services and software to develop integrated, replicable solutions that help clients optimize and transform their businesses. Palisades Technology Partners' staff of business and technology experts provides strategic consulting, systems integration, and a comprehensive Web-based, multi-channel lending platform, which supports the entire lending lifecycle from point of sale, through post-closing.

Updata Capital acted as financial advisor and assisted in the negotiations for Palisades Technology Partners.