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.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://www.finextra.com/newsarticle/41801/finastra-explores-sale-of-banking-business—reuters?utm_medium=rssfinextra&utm_source=finextrafeed
- 2017
- 2023
- 7
- a
- About
- According
- acquired
- ahead
- and
- April
- Banking
- Billion
- business
- Canadian
- company
- Core
- Core Banking
- could
- created
- Early
- early stage
- EBITDA
- equity
- familiar
- financial
- Finastra
- Finextra
- fintech
- Firm
- gears up
- giant
- However
- HTTPS
- in
- Innovation
- IT
- LEARN
- MAKES
- Matter
- million
- more
- Nordics
- owned
- partners
- payments
- People
- Place
- plato
- Plato Data Intelligence
- PlatoData
- player
- process
- ready
- register
- Reuters
- revenue
- sale
- sales
- says
- sell
- Sources
- Stage
- Take
- Talks
- The
- to
- unit
- Universal
- Weeks
- working
- zephyrnet
More from Finextra
Mastercard scores exclusive deal for Citizens’ card portfolio
Source Node: 1913507
Time Stamp: Jan 19, 2023
Apple soft launches UK open banking integration for iPhone Wallet
Source Node: 2911679
Time Stamp: Sep 28, 2023
CFPB urged to strengthen open banking data protection safeguards
Source Node: 3045134
Time Stamp: Jan 3, 2024
Mastercard taps open banking for digital account opening
Source Node: 2647245
Time Stamp: May 10, 2023
Eurosystem invites expressions of interest in wholesale DLT trials
Source Node: 3013838
Time Stamp: Dec 14, 2023