Finastra Looks to Sell Banking Business
(14 February 2023 - Global) Fintech giant Finastra is exploring the sale of its universal banking business for up to $7 billion, according to Reuters.
Reuters is reporting that the company, owned by Vista Equity Partners, is working with a financial adviser as it gears up for a sales process in the weeks ahead, however, talks are at an early stage.
The unit makes about $1.7 billion in revenue and $500 million Ebitda, according to people familiar with the matter.
Finastra was created in 2017 when Vista acquired Canadian payments firm D+H and merged it with core banking player Misys
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