Thomson Reuters is seeking to sell its trade and risk management software business, Financial Times reports. The sale of Kondor is estimated to fetch about $500 million.

Private equity firms, including CVC, Hellman & Friedman, 3i, Warburg Pincus and Advent, may bid for the unit. Summit, owned by IT solutions business Misys, may be among the potential trade buyers. Barclays has been appointed to advise Thomson Reuters on the sale.

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