Iress sells UK mortgage business for £85mn
Iress has agreed to sell its UK mortgage business to Bain Capital for £85mn ($A164.3mn). Iress’ mortgages business provides mortgage sales and origination software (MSO) and associated consulting services to banks and building societies in the UK.Iress bought the mortgages business more than 10 years ago, during which time the company said it had "become a leading provider of mortgage origination software in the UK".This sale is expected to complete in mid-2024 and is subject to approval.The proceeds from the transaction are set to repay debt, which stood at $320mn net in December of...