Rivals may merge shares
(6 February 2012 – United Kingdom) Talks of a possible share merger between UK core banking vendor Misys and Swiss rival Temenos have begun.
In a statement, Misys - which has long been the subject of market rumours - confirms 'preliminary discussions' with Temenos about a 'possible strategic 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,' cautions the statement.
In its own statement, Temenos says it is 'constantly evaluating its strategic options' and that 'no decisions have been taken'.
Misys has long been touted as a merger or takeover target, with a £1.4 billion (A$1.6 billion) cash offer from US giant FIS falling through in August. Last week, the UK vendor admitted it had experienced a 'challenging' first six months trading, thanks to a slowdown in sales in Western Europe.
'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,' cautions the statement.
In its own statement, Temenos says it is 'constantly evaluating its strategic options' and that 'no decisions have been taken'.
Misys has long been touted as a merger or takeover target, with a £1.4 billion (A$1.6 billion) cash offer from US giant FIS falling through in August. Last week, the UK vendor admitted it had experienced a 'challenging' first six months trading, thanks to a slowdown in sales in Western Europe.
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