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.
To learn more about payments innovation, register for NextGen Nordics to take place on 25 April 2023.