Vista Equity Partners mulls Finastra sale
Vista Equity Partners, a US-based private equity and venture capital firm, is considering the sale of banking technology firm Finastra in a deal that could value it at $10 billion, according to Bloomberg.
The venture capital firm is understood to be working with Goldman Sachs Group and gauging interest from potential buyers. Vista is planning to sell as much as 50% in the technology firm.
Vista created Finastra from the merger of two of its acquisitions, Canadian services provider D&H Corporation (bought for $2 billion in 2017) and UK technology firm Misys (which it took private in 2012).
The merged entity is recognised as one of the largest financial service technology providers in the world, alongside Fidelity National Information Services (FIS) and Fiserv.
It has $1.9 billion in annual revenue and more than 10,000 employees split between its dual headquarters of London and Toronto, as well as a multitude of regional offices. According to Bloomberg it also operates with $6 billion in debt.