We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Misys-Temenos merger scrapped

Private equity bids remain for UK software giant

Temenos has pulled out of a major bid to merge with UK software giant Misys.

The Swiss firm, which like Misys sells systems to banks, withdrew its bid after the parties failed to agree on terms.

Misys is still being pursued by two other private equity bids, one from Vista Equity Partners, and another a combination of ValueAct Capital and CVC Capital Partners.

The Vista bid reportedly value Misys at around £1.2 billion. The level of the other bid is less clear.

While a Temenos merger would have seen the combination of two software firms, financial analysts and some Misys shareholders had insisted there were better prospects and quicker value creation on offer in a private equity takeover.

A Temenos bid could also have led to staff cuts or relocation, it was speculated, because the deal proposed that the Temenos Swiss office would become the combined group's head office.

Misys said in a statement that "despite extensive discussions [with Temenos], the parties were unable to agree final terms of a transaction". It said it "continues to be in discussions" with the private equity firms.


IDG UK Sites

Best camera phone of 2015: iPhone 6 Plus vs LG G4 vs Galaxy S6 vs One M9 vs Nexus 6

IDG UK Sites

In defence of BlackBerrys

IDG UK Sites

Why we should reserve judgement on Apple ditching Helvetica in OS X/iOS for the Apple Watch's San...

IDG UK Sites

Retina 3.3GHz iMac 27in preview: Apple cuts £400 of price of Retina iMac with new model