Finastra explores sale of banking business - Reuters


Fintech giant Finastra could be ready to sell its universal banking business for up to $7 billion, according to Reuters, citing sources.

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, says Reuters. 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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By on Tue, 14 Feb 2023 18:45:00 GMT
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