SaaS provider Selient gets acquired

Selient Inc., which makes lending software for banks, is being bought by Canadian Premier Holdings Ltd.

Toronto-based Selient’s products include ProLender and Decision Assistant, both of which are available as software as a service (SaaS). ProLender, a loan origination system, includes both a consumer and business edition while Decision Assistant is designed to help lender assess risk and to cross-sell other financial services to loan applicants.

Customers include the Dundalk, Ont.-based Dundalk District Credit Union and Saint John, N.B.-based Bayview Credit Union. Canadian Premier Holdings, an affiliate of service provider CRI Canada Inc., bought all shares and warrants of Selient and announced the close of the sale today.