PE-backed Calypso Technology could sell for up to $2Bn

Private equity-backed capital market software company Calypso Technology Inc. could be put up for sale in the first quarter, Barron’s reported, citing four people familiar with the situation.

The San Francisco-based financial technology company, which was acquired by private equity firms Bridgepoint Advisers Group Ltd. and Summit Partners LP in 2016, could fetch as much as $2 billion in a sale, sources said.

In January, Calypso had hired bankers for the process, which was expected to start later in the first quarter. Confidential informational memorandums for Calypso were sent out earlier this month to interested parties, and the first round of bids are likely due in early March, according to five bankers and private equity executives familiar with the situation.

The company tapped Evercore and Jefferies Financial to manage the sales process, which has yet to begin, they added.

Source: S&P Global