Misys and Temenos Confirm Discussions Regarding Share Merger
Further to the announcements made on 3 February 2012, Temenos and Misys have reached agreement in principle on certain key terms and are in continuing discussions regarding a possible all share merger of the two groups.
Misys and Temenos believe that the combination would create one of the leading companies in the financial services software industry with the prospects for long term growth underpinned by increasing demand amongst financial institutions for improved efficiency and customer service.
The combined business is expected to benefit from enhanced scale and growth prospects, supported by a global, blue-chip customer base. Temenos and Misys believe that Temenos’ presence in banking, wealth management and business-intelligence complements Misys’ presence in core and transaction banking, treasury capital markets and lending.
Guy Dubois, currently chief executive officer (CEO) of Temenos, will act as CEO of the combined group and Stephen Wilson, currently chief financial officer (CFO) of Misys, will act as CFO of the combined group. Both Dubois and Wilson will become members of the board of directors, which will be chaired by Andreas Andreades, currently chairman of Temenos.