Private equity firm Advent International has hired Credit Suisse to help sell Paris-based portfolio and risk management technology vendor Sophis, according to Reuters.
Advent took a majority stake in Sophis through a leveraged buyout in 2007. Details were not disclosed and the vendor's founder and CEO Hervé Vinciguerra retained a "significant stake".
Founded in 1985, the company claims 130 institutional customers for its products; Risque, designed for sell side firms, Value, which is aimed at the buy side and iSophis. Customers include Barclays, Nomura, HSBC and ING.
Now, Advent has hired Credit Suisse to help it prepare a post-summer sale of the tech firm says Reuters, citing three people familiar with the matter.
Advent is declining to comment on the speculation. Sophis has yet to reply to a request for comment.
Financial software firm Sophis for sale - Reuters