The highly anticipated Calypso sale Technology has started and San Francisco-based fintech could make up to $ 2 billion.
In January, Calypso had hired bankers for the process, which was due to begin later in the first quarter. Memoranda ofinformation Confidential for Calypso were sent earlier this month to interested parties, and the first auction round is likely due in early March, according to five bankers and private equity executives familiar with the situation.
Memoranda, or books, usually contain operational and financial details information on businesses for sale.
Calypso generates up to $ 100 million in earnings before interest, taxes, depreciation and amortization, in fiscal 2020 and could trade for 20 times EBITDA or up to $ 2 billion. Evercore and Jefferies advise on the process.
Calypso pre-qualifies the parties to bid on the company, a banker said. “They start to watch [Calypso]The person said.
The selling process is aimed at private equity firms and some strategic buyers, the people said. Buyout stores that might be interested include Blackstone Group, Vista Equity Partners and GTCR. Cinven, what was expected …
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