Good evening,

Findi, the ASX-listed ATM owner backed by the Flannery family, has agreed terms to acquire a payments infrastructure player to bolt on to its Indian subsidiary in the lead-up to spinning it off as a separate entity.

Street Talk understands Findi’s Transaction Solutions International will pay about $27 million to acquire BankIT Services, a digital financial products distributor that is expected to add about $31 million revenue to Findi’s coffers in the first full year of ownership. BankIt allows under-banked customers to make deposits, pay bills and make investments at 120,000 locations across the country.

The deal, funded via about $22 million cash from Findi’s balance sheet and a deferred payment, is expected to be announced on the ASX as early as Monday evening. The company’s shares were halted pending the announcement on Friday.

Read the full story tomorrow and more on the Street Talk page.

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Bis Industries’ major shareholders, The Carlyle Group and distressed debt investor Varde Partners, are preparing to dig into their back pockets for the third time in three years as they pull into the final lap of lender negotiations for a $150 million refinancing.

Australian shares edged lower on Friday as investors took profits in the banks ahead of US president-elect Donald Trump’s inauguration on Tuesday.

Click here for the latest equity market wrap.