Private Equity Sees $20 Billion of Tech Deals Shelved by Virus

Buyout firms are halting sale processes for European technology companies worth nearly $20 billion, as the market turmoil starts to crimp dealmaking in an industry that’s been a bright spot amid the coronavirus pandemic.

Billionaire Robert F. Smith’s Vista Equity Partners is putting the sale of a stake in payments giant Finastra on hold after soliciting interest from potential buyers, people with knowledge of the matter said. The U.S. investment firm was seeking to sell as much as 50% of London-based Finastra in a deal valuing the business at more than $10 billion including debt, Bloomberg News reported in October.