Latest news with #Apax
Yahoo
19-05-2025
- Business
- Yahoo
Finastra to sell Treasury and Capital Markets unit to Apax funds
Finastra, a global innovator in financial software, has agreed to sell its Treasury and Capital Markets (TCM) division to a firm backed by Apax Partners. The move will see TCM become an independent company, leveraging the private equity firm's extensive experience in scaling software businesses. TCM presently services over 340 financial institutions globally with a range of software solutions such as Kondor, Summit, and Opics. The platform supports front-to-back trade lifecycle management, risk and compliance, and capital market operations. TCM is a recognised technology partner for worldwide banks, boasting decades of experience and strong client integration. The divestment enables Finastra to restructure its operations and reinvest proceeds in its core software offerings spanning loans, payments, and banking. Furthermore, as a separate entity, TCM will benefit from targeted investments in product development, cloud capabilities, and customer experience. Apax intends to strengthen the firm through strategic and operational improvements. Chris Walters, CEO at Finastra stated: "This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software. It will provide capital to accelerate our strategy and reinvest in our core business, while providing our award-winning TCM platform with the backing of an experienced, long-term technology investor to support its continued success moving forward." Jason Wright, Partner at Apax shared: "TCM is a robust, mission-critical platform with leading functionality and an impressive customer base. We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company, drawing on our 25 years of experience scaling global software companies." Gabriele Cipparrone, Partner at Apax, added: "We're excited to partner with the TCM team as the business begins a new chapter as an independent organisation. With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients." The acquisition is scheduled to close in the first half of 2026, subject to usual closing conditions and regulatory approvals. Financial information has not been released. Evercore was Finastra and Vista Equity Partners' principal financial adviser, while Kirkland & Ellis was their legal adviser. Perella Weinberg Partners also served as Finastra's financial adviser. Meanwhile, Apax received financial advice from Deutsche Bank, while Simpson Thacher & Bartlett provided legal advice. "Finastra to sell Treasury and Capital Markets unit to Apax funds" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
19-05-2025
- Business
- Cision Canada
Finastra to Sell Treasury and Capital Markets Division to Apax Funds
LONDON, May 19, 2025 /CNW/ -- Finastra, a global provider of financial software applications, and funds advised by Apax Partners LLP ("Apax"), a leading global private equity advisory firm, today announced that they have entered into an agreement under which Finastra intends to sell its Treasury and Capital Markets ("TCM") business unit to an affiliate of Apax. Upon completion of the transaction, TCM will be rebranded and operated as a standalone business. With a client base of over 340 financial institutions, TCM is a trusted enabler of risk management, regulatory compliance, and capital markets operations. Its suite of software products – most notably Kondor, Summit, and Opics – supports front-to-back trade lifecycle management, risk, compliance, and operations. Built on decades of intellectual property and long-standing client relationships, TCM is deeply embedded in the global banking ecosystem. The sale of TCM will streamline Finastra's portfolio and generate capital for reinvestment to enhance the company's position as one of the world's leading software providers to financial services companies. Finastra remains focused on serving its diversified and established customer base in over 135 countries, offering deep domain expertise and best-in-class technology to many of the world's leading financial institutions and corporations. "This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software," said Chris Walters, CEO at Finastra. "It will provide capital to accelerate our strategy and reinvest in our core business, while providing our award-winning TCM platform with the backing of an experienced, long-term technology investor to support its continued success moving forward." As an independent company working in partnership with the Apax Funds, TCM will be able to invest further in new product development, marketing and technology infrastructure to meet its customers' evolving needs. The Apax Funds will support TCM in sharpening strategic and operational focus, enhancing customer experience and accelerating technological advancements, including strengthening the company's cloud offering. "TCM is a robust, mission-critical platform with leading functionality and an impressive customer base," said Jason Wright, Partner at Apax. "We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company, drawing on our 25 years of experience scaling global software companies." Gabriele Cipparrone, Partner at Apax, said: "We're excited to partner with the TCM team as the business begins a new chapter as an independent organization. With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients." Funds advised by Apax have a long history of investing across the application software industry. Notable investments include Paycor HCM, Zellis Group, ECi Software, OCS / Finwave, Azentio, EcoOnline and IBS Software. The Apax Funds also have extensive experience in supporting corporate carveouts in the software space. The transaction is expected to close in the first half of 2026, subject to customary closing conditions and the completion of information and consultation processes with employee representative bodies, where required. Further terms of the transaction were not disclosed. Evercore served as lead financial advisor to Finastra and Vista Equity Partners and Kirkland & Ellis served as legal advisor. Perella Weinberg Partners also served as a financial advisor to Finastra. Deutsche Bank served as financial advisor to Apax and Simpson Thacher & Bartlett served as legal advisor. Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of finance through technology and collaboration, and its pioneering approach is why it is trusted by 8,100 financial institutions, including 45 of the world's top 50 banks. For more information, visit About Apax Apax Partners LLP is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and transform businesses. The firm has raised and advised funds with aggregate commitments of c.$80 billion. Apax Funds invest in companies across three global sectors: Tech, Services, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information, visit Apax is authorized and regulated by the Financial Conduct Authority in the UK.
CNA
02-05-2025
- Business
- CNA
Buyout firm Apax favorite to win Finastra unit in $2 billion deal, sources say
LONDON :Private equity firm Apax Partners has emerged as the frontrunner to buy Finastra's treasury and capital markets (TCM) business for around $2 billion including debt, people familiar with the matter said on Friday. London-based Apax has been competing in an auction that the financial technology company's majority owner, fellow buyout firm Vista Equity Partners, has held for the unit in recent months, the sources said. Final bids were submitted in recent days and Apax is now considered the favorite to buy the unit, said the sources, who noted an agreement could be reached in the coming days, once negotiations and the financing are settled. No agreement with Apax was guaranteed though and another party could ultimately emerge as the winner, cautioned the people, who spoke on condition of anonymity to discuss private deliberations. Apax and Vista declined comment. Finastra did not respond to a comment request. London-based Finastra was created in 2017 by Vista, which took Canadian payments technology provider D+H Corp private in a C$4.8 billion ($3.5 billion) deal and then merged it with Misys, a banking and capital markets software business that it already owned. The TCM unit provides software which helps financial institutions process trades and manage risk and compliance. Dealmaking activity has generally slowed in recent weeks as market volatility caused by U.S. President Donald Trump's trade war has made company executives more cautious. It is also harder for buyers and sellers to agree how assets are valued in such a turbulent environment. Where mergers and acquisitions have endured though is in businesses which are less affected by tariffs, such as financial software. Last month, buyout firm KKR struck a $3.1 billion agreement with S&P Global and CME Group to acquire OSTTRA, which provides software to handle post-trading tasks.
Reuters
02-05-2025
- Business
- Reuters
Buyout firm Apax favorite to win Finastra unit in $2 billion deal, sources say
LONDON, May 2 (Reuters) - Private equity firm Apax Partners has emerged as the frontrunner to buy Finastra's treasury and capital markets (TCM) business for around $2 billion including debt, people familiar with the matter said on Friday. London-based Apax has been competing in an auction that the financial technology company's majority owner, fellow buyout firm Vista Equity Partners, has held for the unit in recent months, the sources said. Final bids were submitted in recent days and Apax is now considered the favorite to buy the unit, said the sources, who noted an agreement could be reached in the coming days, once negotiations and the financing are settled. No agreement with Apax was guaranteed though and another party could ultimately emerge as the winner, cautioned the people, who spoke on condition of anonymity to discuss private deliberations. Apax and Vista declined comment. Finastra did not respond to a comment request. London-based Finastra was created in 2017 by Vista, which took Canadian payments technology provider D+H Corp private in a C$4.8 billion ($3.5 billion) deal and then merged it with Misys, a banking and capital markets software business that it already owned. The TCM unit provides software which helps financial institutions process trades and manage risk and compliance. Dealmaking activity has generally slowed in recent weeks as market volatility caused by U.S. President Donald Trump's trade war has made company executives more cautious. It is also harder for buyers and sellers to agree how assets are valued in such a turbulent environment. Where mergers and acquisitions have endured though is in businesses which are less affected by tariffs, such as financial software. Last month, buyout firm KKR (KKR.N), opens new tab struck a $3.1 billion agreement with S&P Global (SPGI.N), opens new tab and CME Group (CME.O), opens new tab to acquire OSTTRA, which provides software to handle post-trading tasks. ($1 = 1.3784 Canadian dollars)
Yahoo
02-05-2025
- Business
- Yahoo
Buyout firm Apax favorite to win Finastra unit in $2 billion deal, sources say
By Amy-Jo Crowley LONDON (Reuters) -Private equity firm Apax Partners has emerged as the frontrunner to buy Finastra's treasury and capital markets (TCM) business for around $2 billion including debt, people familiar with the matter said on Friday. London-based Apax has been competing in an auction that the financial technology company's majority owner, fellow buyout firm Vista Equity Partners, has held for the unit in recent months, the sources said. Final bids were submitted in recent days and Apax is now considered the favorite to buy the unit, said the sources, who noted an agreement could be reached in the coming days, once negotiations and the financing are settled. No agreement with Apax was guaranteed though and another party could ultimately emerge as the winner, cautioned the people, who spoke on condition of anonymity to discuss private deliberations. Apax and Vista declined comment. Finastra did not respond to a comment request. London-based Finastra was created in 2017 by Vista, which took Canadian payments technology provider D+H Corp private in a C$4.8 billion ($3.5 billion) deal and then merged it with Misys, a banking and capital markets software business that it already owned. The TCM unit provides software which helps financial institutions process trades and manage risk and compliance. Dealmaking activity has generally slowed in recent weeks as market volatility caused by U.S. President Donald Trump's trade war has made company executives more cautious. It is also harder for buyers and sellers to agree how assets are valued in such a turbulent environment. Where mergers and acquisitions have endured though is in businesses which are less affected by tariffs, such as financial software. Last month, buyout firm KKR struck a $3.1 billion agreement with S&P Global and CME Group to acquire OSTTRA, which provides software to handle post-trading tasks. ($1 = 1.3784 Canadian dollars) Sign in to access your portfolio
