IRESS Limited (AU:IRE) has released an update.
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IRESS Limited has successfully divested its UK Mortgages business to Bain Capital for £85 million, marking the company’s largest sale under its strategic transformation to simplify operations and reduce debt. The proceeds will be used to retire debt, improving IRESS’s debt to leverage ratio, and setting the stage for sustainable dividends. This strategic move allows IRESS to focus on its core competencies in the financial technology sector.
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