From $120m to $20m in less than ten years: how not to do business

Source: getty images

So, as FIS is busy with the takeover of fellow US vendor Sungard, the latter is shedding business that is not likely to be of any use to the new owners. Thus, the core banking software unit – known as Ambit Core Banking – has been sold to rival banking technology provider, Silverlake Axis.

Nothing unusual, one might say, businesses are bought and sold all the time. True, but how many large international fintech firms have managed to lose $100 million of business value in less than ten years?