TORONTO, June 03, 2026 (GLOBE NEWSWIRE) — CORA Group, a portfolio of Jonas Software, an operating group of Constellation Software (TSX: CSU), today announced that it has acquired Finastra’s U.S. Mid-Market banking business, which includes core banking, digital banking and related businesses. The solution brands include:
- Phoenix Core Banking System
- MalauzAi Digital Banking
- Analyzer IQ
- Enterprise Content Management (ECM)
These solutions represent mission-critical software used by hundreds of banks and credit unions across the United States. Phoenix provides a comprehensive, cloud-based solution that helps banks and credit unions attract new account holders, deliver consistent service across channels, and scale efficiently as business and regulatory demands evolve. The platform’s impact has also earned significant industry recognition: Celent’s 2024 report highlighted Phoenix for its cost value, security, and scalability; and Gartner’s 2025 Magic Quadrant for Retail Core Banking Systems, North America.
“Finastra’s U.S. Mid-Market business is exactly the kind of company we look for – strong products, loyal customers, and people who really know their industry,” said Denis Brosnan, Portfolio CEO of CORA Group. “We don’t acquire businesses to change what’s working. We give them a permanent home, the resources to keep delivering, and the space to stay close to their customers. That’s exactly what we plan to do here.”
The acquisition pairs CORA Group’s proven, long-term approach to owning and growing software businesses with a team that has deep roots in the U.S. community and mid-market banking. The U.S. Mid-Market business will operate as a focused, standalone company, keeping the same products, people, and customer relationships that define it today, with the added backing and stability of Constellation’s global platform.
“We believe this move sets the U.S. Mid-Market business up to thrive,” said Chris Walters, Chief Executive Officer of Finastra. “CORA Group’s long-term approach is the right fit for this business and its customers. For Finastra, it sharpens our focus on the areas where we lead and where we can deliver the greatest value.”
Joe Gomez, who will manage the business within CORA Group, said, “This gives our business a long-term owner committed to stability and sustainable growth—one that values the innovative products and solutions we’ve built and wants to continue investing in them. For our customers, nothing changes day-to-day; instead, they gain a partner that helps them compete more effectively against large money-center institutions with modern, scalable, innovative technology. For our team, it opens the door to do even more.”
CORA Group, through Constellation’s decentralized model, has a strong track record of acquiring and growing vertical software companies. The approach is simple: let good teams run their businesses, give them the support they need, and think in decades, not quarters.
For customers, the message is straightforward: nothing about your experience changes. The same teams, the same products, the same support, and the same commitment remain firmly in place. Over time, the business will benefit from CORA Group’s operational experience and investment to continue strengthening its offerings and delivering greater value.
PJT Partners served as financial advisor to Finastra. Kirkland & Ellis LLP served as legal counsel to Finastra.
About CORA Group
CORA Group is a collective organization redefining advancement through the acquisition, strengthening, and growth of over 40+ independent software brands worldwide. Today, we are proud to serve over 50,000 customers in 10+ markets with industry-leading enterprise software and related services. CORA Group operates as one of the portfolios under Jonas Software, an operating group of Constellation Software Inc. This relationship reinforces CORA’s commitment to delivering industry-leading solutions and benefiting from the extensive resources and support provided by Jonas Software and Constellation Software Inc. Constellation Software is one of the world’s largest software companies, with over 1,500 acquisitions completed since its founding in 1995. Visit www.thecoragroup.com or follow CORA Group on LinkedIn.
About Finastra
Finastra is a global leader in financial services software, trusted by 7,000+ customers—including 40 of the world’s top 50 banks – in over 110 countries. With expertise in Lending, Payments and Universal Banking, we deliver reliable, scalable, mission-critical solutions such as Loan IQ, LaserPro, Trade Innovation, Essence, Global PAYplus, Payments To Go, and Financial Messaging. Backed by Vista Equity Partners, we co-innovate with customers to build modern technology that helps financial institutions grow with confidence. Visit www.finastra.com or follow Finastra on LinkedIn.
Media Contacts
CORA Group
George Chalmers
Vice President, M&A
[email protected]
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