Financial services software giant SS&C Technologies isn’t done with Australian M&A just yet.
C Technologies has sent a travelling party of executives to Australia, fuelling expectations that it does not want to be the bridesmaid of Australian fintech MC’s executives met advisers and industry players in the past week, where talk naturally turned to its MSS&C Technologies is the world’s biggest hedge fund and private equity administrator.
The one that’s left, and where Street Talk wouldn’t be surprised to see interest, is at Bravura Solutions, whose shares are down 46 per cent in the past year. One idea bankers have pitched is to marry up Macquarie Capital-advised Bravura, which sells back-office software to wealth managers and fund administrators, and fellow listed player IRESS, to create a bigger Australian fintech software play that could make about $1 billion in revenue and $200 million or more at the EBITDA line.[If nothing else, it could be extremely accretive for IRESS. The group’s shares trade at 16.4 times forecast EBITDA, while Bravura’s are at 7.4 times.
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