Bain Capital Tech Opportunities to acquire the UK Mortgages business from Iress and a majority stake in finova.

Bain Capital Tech Opportunities, a global software investor, agreed to acquire the UK Mortgages business from Iress, a technology company providing software to the financial services industry, and a majority stake in finova, a provider of mortgage and savings origination and servicing software. Financial terms were not disclosed. “We are excited to back a compelling combination of robust platforms with complementary product suites and customer bases. The combined scale of these two businesses will allow us to offer more competitive and innovative products in a dynamic market, ultimately bringing more choice to consumers across the country,” James Stevens, Bain Capital Tech Opportunities Managing Director.