Bid speculation seems to permanently surround financial software provider Misys of late and it appears that there is no smoke without fire, as the group has confirmed it is in talks with a suitor.
The group said it is in preliminary discussions with Temenos Group, a Swiss provider of banking software, regarding a possible strategic combination to be effected by way of an all share merger.
Founded in 1993, and listed on the Swiss stock exchange, Temenos serves over 1,500 financial institutions in more than 125 countries across the world. The company has long been seen as a natural partner for Misys.
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In the final week of January, Misys disappointed the market with its interim results, in which it said customers were taking longer to pull the trigger on new contracts.
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