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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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Core banking systems Mergers and acquisitions

Editorial | what does this mean?

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Comments: (4)

A Finextra member 15 February, 2023, 10:14

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This is the third time that Vista have tried to sell Misys in the last seven years. The merger with D+H was made after the second failure.

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A Finextra member 15 February, 2023, 10:42

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Interesting in that it is just the Universal Banking business, not lending, payments, TCM etc. I bet that the $1.7b rev / $500m EBITDA is pretty much flat year on year though as there doesn't appear to be much new name / new business growth in that space? Anyone got any thoughts on growth numbers over attrition from an ageing, existing customer base?