• More reports on:
  • M&A

British banking software firm Misys in merger talks with Swiss rival Temenos

03 Feb 2012

1

British financial software company Misys is in talks with Swiss rival Temenos Group AG about an all-share merger, six months after it failed to reach a deal to be acquired by Fidelity National Information Systems.

Misys today said in a statement that it is in ''preliminary discussions'' with Temenos about a ''possible strategic combination to be effected by way of an all-share merger,'' while Geneva-based Temenos said separately that it is ''evaluating its strategic options'' including an all-share combination.

"Discussions are continuing and there can be no certainty that a transaction will ultimately take place, nor as to the terms on which any transaction might be constituted," Misys added.

London-based Misys supplies software to banks, fund managers and traders has a market value of £1.09 billion ($1.7 billion). Rival Temenos has a market capitalisation of around $1.4 billion as of yesterday's (Thursday, 2 February2011) closing prices.

In June 2011, Fidelity and Misys called off merger talks after the two could not agree on the 450-460 pence a share offer made by  US-based Fidelity.

The merger between Misys and Temenos would value the combined company at $3.1 billion and create the largest vendor of banking software.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more