Vista Equity Partners is reportedly looking to sell a minority stake in Finastra, a financial software developer.
Finastra was created in 2017 after Vista Equity Partners had merged its portfolio companies D+H and Misys.
The firm is looking to make a partial sale of its stake in Finastra, due to the size of the FinTech, according to a report from Mergermarket which cites four people familiar with the matter. A sale of its stake could pave the way for a future IPO in the US or complete sale, the sources stated.
According to a report from Bloomberg, the sale could value the business at more than $10bn, with Vista considering a sale of up to 50% of its sharehold.
Finastra designs a number of technology solutions for financial sectors including retail banking, lending, banking, and capital markets, investment management, and more. Last month, the company released a new tool for securities financing transaction regulation (SFTR) reporting. It was designed to give firms automated trade reporting to lower costs surrounding data capture and compliance.
The FinTech has made a number of partnerships this year. Seattle Bank even expanded its relationship with the FinTech earlier in the month to provide a new technological core to its banking services.
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