
Apax Funds to acquire Finastra's
On
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.
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 its strategic and operational focus, enhancing customer experience, and accelerating technological advancements, including strengthening the company's cloud offering.
The transaction draws on the Apax Funds' expertise in the software subsector with notable investments including
"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."
"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."
Note that AGA's expected investment in TCM is calculated based on the look-through positions of Apax XI's overall investment in TCM and is translated based on the latest exchange rates available where applicable1. AGA has a commitment of c.
AGA, whose shares are listed on the
For more information about the transaction, please visit: https://www.apax.com/news/press-releases/
END
Contact details
|
|
|
Footnotes
1. |
Based on Bloomberg closing EUR/USD FX rate on |
2. |
AGA's commitment in Apax XI of c. |
|
|
|
|
Notes
1. |
Note that references in this announcement to |
2. |
Please be advised that this announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 ("MAR") |
3. |
This announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within |
4. |
The information presented herein is not an offer for sale within |
5. |
This announcement may include forward-looking statements. The words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding AGA's intentions, beliefs or current expectations concerning, among other things, AGA's results of operations, financial condition, liquidity, prospects, growth and strategies. The forward-looking statements in this presentation are based on numerous assumptions regarding AGA's present and future business strategies and the environment in which AGA will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of AGA to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond AGA's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as AGA's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which AGA operates or in economic or technological trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. AGA expressly disclaims any obligation or undertaking to release any updates or revisions to these forward-looking statements to reflect any change in AGA's expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based after the date of this announcement, or to update or to keep current any other information contained in this announcement. Accordingly, undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this announcement. |
About
AGA is a Guernsey registered closed-ended investment company listed on the
AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses).
The Company makes Private Equity investments in Apax Funds, and has a portfolio of primarily debt investments, derived from the insights gained via Apax's Private Equity activities.
Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com.
About Apax
Apax is authorised and regulated by the Financial Conduct Authority in the
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the