US-based secured finance solutions provider IDS has completed its acquisition of White Clarke Group, targeting strategic growth opportunities as businesses adapt to emerging technologies.

IDS will be co-headquartered in Minneapolis and White Clarke’s Milton Keynes office.

The combined company is co-headquartered in Milton Keynes and Minneapolis, serving more than 300 customers in North America, Europe and Asia-Pacific. Its portfolio provides software solutions for automotive, asset and working capital finance, offered to a claimed $7Tn (£5Tn) secured finance market.

Plans to merge were announced in April, aimed at readying the business for emerging growth opportunities and trends in connected and clean technologies. All of its solutions will be consolidated on a single IDScloud software-as-a-service platform, which is claimed to simplify operations and provide better cost control for finance providers.

David Hamilton, CEO of IDS, said: “These opportunities will increasingly require access to capital from secured finance firms. Drawing from our combined strengths, IDS is now more agile and better positioned to capitalize on these market trends and innovate at the pace of change as we support the accelerated growth of digital transformation, service-centric business models and mobility in our industry.”

Five Arrows Principal Investments, who had invested in White Clarke Group in 2016, will remain a shareholder in the business. As private companies, the financial terms of the deal were not disclosed.