CVC Capital Partners and ValueAct Capital have withdrawn from the race to take over Misys, leaving Vista Equity Partners as the sole surviving bidder for the UK-based banking software house.
Marfin Group, a leading European financial group and long established Temenos T24 user in Cyprus, Greece and Romania, has successfully extended its usage of T24 to its Ukrainian subsidiary, Marfin Bank Ukraine.
Having killed off a proposed merger with Temenos, core banking vendor Misys has agreed a £1.27 billion cash deal to be acquired by Vista Equity Partners.
Swiss core banking vendor Temenos has pulled out of merger talks with Misys in the face of competition from two rival bidders for its British competitor.
Temenos notes the announcement today that the Misys plc ("Misys") 'put up or shut up' deadline has been extended to 5.00 p.m. on 2 April 2012 in accordance with Rule 2.6(c) of the UK Takeover Code.
Core banking vendor Misys is in talks with its largest shareholder, ValueAct Capital, and private equity firm CVC Capital Partners about a potential joint takeover offer.
The Sofgen group, an international provider of IT solutions for banks, is pleased to announce the successful completion of the reimplementation of Temenos T24 R10 for the Bank of Zambia.
Sofgen Holdings Limited (Sofgen), an international banking IT consulting firm, announced today that its wholly owned subsidiary, Sofgen Americas, Inc. has completed the T24 upgrade to R10 for the Miami branch of Banco Sabadell.
Swiss core banking vendor Temenos is working furiously to seal a merger deal with UK rival Misys as its latest set of results show a 33% drop in new license sales for the fourth quarter.
Misys' proposed marriage to Swiss core banking rival Temenos could be on the rocks after the UK banking software vendor confirmed that it has received an approach from Vista Equity Partners.
© Finextra Research 2013