General Motors Financial Co. Inc., a unit of automaker General Motors Co. (NYSE:GM), said it agreed to acquire FinanciaLinx Corp. to expand its product offerings in Canada.
Founded in 1999, Toronto-based FinanciaLinx is one of the largest independent leasing companies in Canada and provides automobile lease financing solutions to customers throughout the country.
Reuters
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"We are excited about the opportunity to leverage FinanciaLinx's expertise in the Canadian lease market to increase financing options for GM dealers over time while maintaining FinanciaLinx's relationships with non-GM dealers," said GM Financial President and Chief Executive Officer Dan Berce.
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The transaction is expected to close on April 1. Upon closing, FinanciaLinx will operate as a subsidiary of GM Financial, reporting to Howard Cobham, GM Financial Senior Vice President - Dealer Services Canada.
