Finastra has struck a definitive deal to sell off its Canadian-based Enhancement Services business to Sigma Loyalty Group. Terms of the sale were not disclosed.
Established in 2011, the Enhancement Services business provides credit and identity protection technology in Canada. The unit serves the end customer, making it an outlier for B2B-focused Finastra.
It is being bought by Sigma Loyalty Group, a provider of enhancement services and marketing programmes to Canadian financial institutions and retail partners.
"The sale will provide the right environment for our customers and employees in this space to succeed over the long term and further innovate,” says Simon Paris, CEO, Finastra.