Temenos Acquires Lydian Associates
Temenos has announced that it is acquiring Lydian Associates, a UK-based provider of business intelligence (BI) software for the banking sector. The acquisition price was not disclosed. Lydian Associates, formed in 1998, sells a range of products under the Webform brand that afford multi-dimensional analysis of a bank’s data. The products are designed to give users the ability to produce desktop reports, graphics and dashboards – defined according to any specified parameters or key performance indicators (KPIs).
Temenos will integrate the Webform products with the T24 Data Warehouse, which boasts tight integration between operational and management information. The company plans that the Webform products will add the ability to interrogate this data using pre-packaged multi-dimensional analysis tools.
The total acquisition price, which is not disclosed, consists of an up-front consideration and further payments contingent on Lydian achieving performance criteria. In its last financial year (to end of May 2008), Lydian made an operating profit of US$560,000 on revenue of US$1.8m.