Private equity investors Summit Partners and Vista Equity Partners, the owners of Trintech, are exploring the sale of the US-based software company, reports Reuters.
Trintech, which provides software for the financial services sector, could be valued approximately $2bn, including debt, the sources said.
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Summit Partners and Vista Equity Partners have hired Deutsche Bank for the sale process.
The Texas-based company, known for its cloud-based finance and accounting software, generates an estimated annual revenue of $200m and about $90m in EBITDA.
Sources close to the development told the publication that the owners are aiming for a valuation that exceeds 20 times the company’s core profits.
Although the sale may attract interest from other private equity firms, the details of the discussions remain confidential.
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By GlobalDataNeither Summit Partners nor Trintech has offered comments on the matter.
Deutsche Bank and Vista have also declined to comment on the news, Reuters said.
Trintech’s software solutions are designed to assist corporations in collecting, processing, and analysing financial data to enhance business performance.
The company operates globally with offices in Australia, France, Germany, Ireland, Singapore, the Netherlands, the Nordics, the UK, US and has partnerships in South Africa, Latin America, and the Asia Pacific region.
Its clientele includes high names such as Toyota Motor and the Dallas Cowboys, serving approximately 4,200 organisations across various sectors like retail, technology, and manufacturing.
In a bid to bolster its offerings, Trintech acquired the Financial Reconciliation Business from Fiserv in July 2023.
This acquisition also brought in key personnel with technical expertise from North America, EMEA, and APAC.
Summit Partners became the majority stakeholder in Trintech in January 2018, taking over from Vista, which had initially invested in the company in 2015 and still retains a stake.
In November 2023, Vista, along with investment company Blackstone, signed an agreement to acquire Energy Exemplar, an Australian software company.
