Flywire jumps after report on company exploring sale

Flywire

02/08/2024 19:52

(Updates)
    ** Shares of payments processor Flywire  FLYW.O  jump as
much as 10.7% to $19.16; last up 10.4% at $19.14
    ** FLYW is exploring a sale after attracting takeover
interest, Reuters reported on Friday citing people familiar with
the matter
    ** Boston, Massachusetts-based FLYW is working with
investment bank Qatalyst Partners to evaluate interest from
potential buyers, including private equity firms
    ** Talks are at an early stage and no deal is certain,
sources said
    ** Flywire and Qatalyst did not immediately respond to
Reuters' requests for comment
    ** William Blair analysts say FLYW stock price performance
has been disappointing, despite strong financial performance
        ** Investor concerns about structural issues could get
alleviated with FLYW operating as a private entity - William
Blair analysts
  
    ** FLYW, at present, has a market cap of $2.38 bln - LSEG
data
    ** As of last close, FLYW shares down 25.1% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))