New tyrekicker turns up at GBST, ready to battle Bravura

The alarm bells are well and truly ringing at Australian financial software company GBST Holdings.

Hot on the heels of Bravura Solutions’ revised $185 million bid, Street Talk understands there is a new suitor lurking and readying a proposal for GBST and its bankers at Deutsche Bank.

The new face is believed to be an offshore strategic player – and one that is backed by a deep-pocketed private equity firm.

Sources said the new party’s offer was imminent and GBST would likely have a few busy days ahead. It’s likely to be indicative and non-binding, subject to conditions and require due diligence and the like, as we’ve come to expect.

While it is not known who the interested party is, UK-based FNZ is one name that could fit the bill. It is a global fintech firm that was acquired by Canada’s CDPQ and London-based Generation Investment Management late last year.

Another global name that has been bulking up in the wealth management software sector is New York-listed Broadridge Financial Solutions which competes with Bravura and GBST.

It comes as GBST’s board was due to meet this week to consider Bravura’s latest overture.

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