Latest news with #Kondor
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
Zawya
19-05-2025
- Business
- Zawya
Finastra to sell treasury and capital markets division to Apax Funds
Dubai, United Arab Emirates – 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. About Finastra 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. Media Contacts For Finastra: Caroline Duff Global PR Director Dan Gagnier Gagnier Communications Finastra@ For Vista Equity Partners: Brian W. Steel media@ For Apax Partners: Todd Fogarty, Kekst CNC Amanda Boateng, Apax
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.
The Independent
14-03-2025
- The Independent
Thief who murdered Amazon driver while stealing van jailed for at least 30 years
A thief who murdered a 'hard working' Amazon delivery driver who was trying to stop him stealing his van has been jailed for life. Claudiu Carol Kondor, 42, was delivering parcels in Leeds last year when 'career criminal' Mark Ross, 32, climbed into his van and started to drive away, a court heard. Determined not to let Ross steal his livelihood, Mr Kondor clung onto the vehicle for half-a-mile as the defendant hit speeds of up to 60mph and swerved from side to side before hitting two parked cars, all in an effort to knock him from the van. Mr Kondor died from head and chest injuries from the second crash, the court heard. On Friday, Ross was jailed at Leeds Crown Court for a minimum term of 30 years. Mr Kondor's devastated fiancee said he had dreamed of owning his own van and bought it just three weeks before he was killed. In a victim impact statement read to the court, Mariana Gheorghe, who said she had been 'forced to return to Romania with a broken heart' after his death, described Mr Kondor as a 'man of integrity and hard work'. She said he had a difficult upbringing in Romania and moved to Italy at the age of 19, doing various jobs and working as a volunteer to help earthquake victims in 2009. Ms Gheorghe said Mr Kondor came to England in 2019 and worked as a delivery driver and security guard, realising his dream of owning his own van in July 2024. Her statement said: 'Of all his jobs he liked delivering the most. He enjoyed meeting people, delivering parcels on time and correctly. 'When he finished work each day he was happy to say he had done his best.' Ms Gheorghe went on to say: 'I don't know how I will live without him, everything seems so difficult to me. I'm still shocked and confused about everything that happened. 'Both me and Claudiu were the kind of people who like to work, who built a life on dreams and honest work on their own.' Ross had pleaded guilty to manslaughter, but denied murdering Mr Kondor, claiming he was unaware of him hanging onto the van and that speed bumps had caused him to lose control of the vehicle. On Wednesday, a jury of 11 found him guilty of murder by a majority of 10 to one. Sentencing him on Friday, judge Mr Justice Goss said: 'Claudiu Carol Kondor must have been terrified in the last 45 seconds of his life as you ignored his pleas to stop and drove faster, dragging him along the road, causing him mental and physical suffering.' Jurors heard Mr Kondor was delivering parcels for Amazon in the Armley area of Leeds on August 20 last year using his own silver Transit van – which was full of parcels he had collected from an Amazon depot. While he was away from his vehicle delivering a parcel, Ross, who lived nearby and had gone out to buy cannabis, climbed into the driver's seat and started to drive the van away, the court heard. Mr Kondor tried to stop him by opening the front nearside passenger door of the van and attempting to climb in. The court heard this did not stop Ross driving away, with Mr Kondor hanging onto the moving van through an open door. Witnesses described Mr Kondor's legs dragging on the ground as he clung onto the inside of the open door, with one woman saying she heard him shouting 'Help'. Prosecutor John Harrison KC told jurors: 'After speeding and swerving failed to get rid of Mr Kondor, the defendant deliberately drove into collision with two parked cars.' He said Ross turned the steering wheel towards a black car parked on the side of the road, and when that did not knock Mr Kondor free from the van, he 'tried again'. 'The second collision was with a blue car which caused damage to the van, to the parked car and most significantly, caused fatal head and chest injuries to Mr Kondor,' Mr Harrison said. Mr Kondor, who lived in Sheffield, was pronounced dead at the scene. The court heard after driving away, Ross met up with some other people and the contents of the van were removed. In his closing speech, Mr Harrison said 'career criminal' Ross must have realised Mr Kondor, who was wearing a high-viz jacket, was there, but made the choice that the driver was 'expendable'. Ross, of Conference Road, Armley, told the jury he had been involved in stealing vans previously, but said he had 'never been involved in anything like this before', adding 'I would have stopped the van and run off if I had known he was there'. He was given a concurrent sentence of six months for a separate offence of theft after stealing cashmere jumpers from a lorry.
The Guardian
14-03-2025
- The Guardian
Man found guilty of murdering Amazon driver in Leeds jailed for life
A 'career criminal' has been jailed for life with a minimum term of 30 years for murdering a 'hard-working' Amazon delivery driver who tried to stop him stealing his van. Claudiu-Carol Kondor, 42, was dragged along the streets for about half a mile at high speeds as he clung to his vehicle to try to stop the theft on 20 August last year. The thief, Mark Ross, had climbed into the van while Kondor was delivering Amazon parcels in the Armley area of Leeds. Leeds crown court heard that Ross hit speeds of 60mph on residential streets and swerved erratically from side to side before hitting two parked cars, in an effort to 'get rid' of Kondor, who hung from the open passenger door. The Romanian delivery driver died from head and chest injuries after Ross deliberately crashed into a stationary Mini to knock him from the vehicle. The judge, Mr Justice James Goss, said Kondor had suffered 60 areas of injury to his skull, brain and limbs and that his aorta, the largest artery in the body, had been slashed in Ross's getaway attempt. Sentencing Ross to life in jail with a minimum term of 30 years, he said: 'Your actions must have terrified him in the last moments of his life, knowing he had to hold onto the speeding van or fall into the road. 'You ignored his pleas to stop and callously murdered him, not only depriving him of his life but also taking a much-loved and hard-working partner ... No court can undo the hurt you have caused.' Kondor's fiancee, Mariana Gheorghe, said in a victim impact statement that said she had been 'forced to return to Romania with a broken heart' after his death, and described Kondor as a 'man of integrity and hard work'. She said he had a difficult upbringing in Romania and moved to Italy at the age of 19, doing various jobs and working as a volunteer to help earthquake victims in 2009. Gheorghe said Kondor came to England in 2019 and worked as a delivery driver and security guard, realising his dream of owning his own van in July 2024 – just weeks before he was murdered. 'He enjoyed meeting people, delivering parcels on time and correctly,' she said. 'When he finished work each day he was happy to say he had done his best.' Sign up to First Edition Our morning email breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion She added: 'I don't know how I will live without him, everything seems so difficult to me. I'm still shocked and confused about everything that happened.' Ross, who claimed he was unaware of Kondor hanging on to the van, had pleaded guilty to manslaughter but denied murder. He was found guilty of the more serious charge on Wednesday. The judge said Ross had a 'difficult and troubled childhood' and a history of offending from the age of 13, predominantly for theft and burglary. He was given a concurrent six-month jail term on Friday for an unrelated theft from a lorry on the M1 in April last year. Goss, sentencing, said the murder was carried out 'for gain'. He added: 'It was an offence of particularly high seriousness. He was performing a service to the public as a conscientious delivery driver.'
