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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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.
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
By Vaishali Varu Published
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
By Ruth Emery Published