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Vista fintech considering banking arm sale

Finastra, a London-based fintech owned by technology focused private investment firm Vista Equity Partners, is exploring a possible sale of its banking unit in a deal that could be worth as much as $7 billion, according to a report by Reuters.

The report cites several unnamed sources as confirming that Finastra is working with a financial adviser as it examines options for the business which provides universal banking software allowing banks and credit unions to run core processes.

According to the report, the business currently generates about $1.7 billion in revenue and roughly $500 million of earnings before interest, tax, depreciation and amortisation.

Vista created Finastra in 2017, after it took Canadian payments technology provider D+H Corp private in a CAD4.8 billion ($3.6 billion) deal and then merged it with existing portfolio company Misys, a banking and capital markets software business.

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