Australian financial tech firm Iress raises forecasts after selling UK mortgage business to Bain Capital for £85M.

Australian financial tech firm Iress raises forecasts after successfully selling its UK mortgage sales and origination business for £85M to Bain Capital Tech Opportunities. The sale will result in an EBITDA of £70-£73M for the full year, and the company's balance sheet will be strengthened with a 1.2x leverage ratio. The UK business unit saw a 5% increase in total revenue compared to the prior period.

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