Misys Completes Sophis Acquisition
Misys, an application software and services company, has completed its acquisition of Sophis. The acquisition has brought together two software and services providers in capital markets, resulting in a combined business that has a comprehensive cross-asset and front- to back-office coverage.
Financial institutions on both the sell-side and the buy-side use Sophis solutions. Its buy-side solutions will help accelerate Misys’ penetration into this lucrative market. Its sell-side solutions, particularly around the equities, equity derivatives and commodities areas, are complementary to Misys’ existing solutions in interest rate derivatives, foreign exchange (FX) and fixed income, as well as its commercial lending capabilities.
The two businesses now have more than 1,800 dedicated domain specialists with expertise covering all asset classes across all functional areas, including trading, investment decision support, portfolio management, risk management, compliance, pricing and collateral management.
Mike Lawrie, chief executive officer (CEO) of Misys, is delighted with the additional strengths the acquisition brings to the company: “Misys and Sophis clients will both benefit from this acquisition: Misys’ customers will be able to take advantage of the more advanced functionality around equities, equity derivatives, portfolio management and portfolio analytics from Sophis. Whereas, Sophis’ clients will have access to greater interest rate and credit derivatives, bonds and FX capabilities from Misys solutions.”