Exclusive-Bridgepoint, Astorg consider £2 billion-plus Fenergo sale, sources say
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Pound banknotes are seen in this illustration taken March 1, 2022. REUTERS/Dado Ruvic/Illustration
By Amy-Jo Crowley
LONDON, Sept 28 (Reuters) - Bridgepoint and Astorg are considering selling Fenergo as dealmaking in the sector picks up, three people familiar with the matter said, with one saying the Irish fintech could be valued at more than £2 billion ($2.7 billion).
The private equity firms have held discussions with potential buyers and are expected to appoint an investment bank later this year in a potential transaction that could attract strategic bidders, the sources told Reuters.
A sales process could be launched early in 2027, with a decision yet to be taken, said two of the sources.
Bridgepoint and Astorg both declined to comment. Dublin-based Fenergo did not respond to a request for comment.
Fenergo develops software that helps more than 300 of the world's largest banks and insurers comply with regulatory requirements and manage client lifecycle processes, including onboarding, know-your-customer checks and data management.
The potential deal highlights a pickup in tech dealmaking despite a selloff in software stocks earlier this year.
Thoma Bravo is exploring a sale of Foundation Software, Vista Equity Partners is considering selling banking software provider Finastra and healthcare software company Waystar is weighing its options, Reuters reported earlier this month.
Fenergo, founded and led by CEO Mark Murphy, is expected to attract interest from information services companies and exchange operators, the sources said.
Astorg and Bridgepoint acquired Fenergo from Insight Partners in 2021 for an undisclosed sum.
The company has also sought to capitalise on demand for AI tools, launching an agentic AI orchestration platform designed to automate workflows such as onboarding and periodic reviews.
Its total revenue rose by 7.5% to €149.4 million ($170 million) for the year ending in March 2025, driven by more subscription revenue and client renewals for its software products. Operating profit increased 66% to €20.9 million.
($1 = 0.7539 pounds)
($1 = 0.8799 euros)
(Reporting by Amy-Jo Crowley in London; Editing by Anousha Sakoui and Alexander Smith)
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