Vista Equity Partners launches rival bid for Misys
Banking and risk management software provider Misys was due to merge with core banking software provider, Temenos, but Vista Equity's bid now casts doubt on that deal.
According to a report in the Financial Times, Vista Equity Partners has launched a rival bid for financial services software provider, Misys.
Misys, which provides a range of banking and risk management software, had earlier agreed to merge with core banking software provider, Temenos, however, according to the FT, Vista has made a GBP 1.2 billion offer for Misys. The FT reports that this is lower than the offer Fidelity National Information Services made last year for Misys.
Some of Misys' largest shareholders reportedly support the Temenos deal, however, according to newspaper reports, it could take longer to realise the benefits from a tie-up with Temenos,whereas most software companies that have been bought by private equity providers often experience the immediate benefit of a significant capital injection which can be used to acquire other smaller companies to complement their existing software or to invest in R&D.
Vista Equity Partners recently bought Thomson Reuters' trading and risk management business, Kondor, which according to the newspaper report,l could fit nicely with the solutions provided by Misys.
Date Posted:20th February 2012