(Bloomberg) -- Vista Equity Partners is working with Evercore Inc. to help sell the fintech Finastra’s Treasury and Capital Markets business, people familiar with the matter said.
The private equity firm is in the early stages of weighing a sale of the TCM unit, which could fetch at least $2 billion, said the people, who asked to not be identified because the details aren’t public.
The division generates about $200 million in annual earnings before interest, taxes, depreciation and amortization, according to the people. A final decision hasn’t been made and Vista could opt against a sale of the unit, they said.
Representatives for Vista and Evercore declined to comment. A spokesperson for Finastra didn’t immediately respond to a request for comment.
London-based Finastra was formed in 2017 through a merger of Misys Group, the capital markets business owned by Vista at the time, and Canadian payments firm D+H Corp.
The TCM unit provides software for financial institutions that helps companies process trades and manage risk and compliance. Bloomberg News reported in August that Vista had been talking to advisers about a sale process for the unit that could kick off this year.
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