Finastra, a financial technology company owned by buyout firm Vista Equity Partners, is exploring a sale of its banking unit for as much as $7 billion, five people familiar with the matter said on Tuesday. The London-based company is in the process of carving out the business known as universal banking, which provides software to banks and credit unions to run core processes, as it prepares to kick off a sale process in the coming weeks, the sources said.
Vista Equity's Finastra Explores $7 bln Banking Unit Sale
Reuters
