German acquisition for Temenos

Temenos Group, the Swiss provider of integrated banking systems, has acquired ACTIS.BSP, a German vendor operating in the same area and subsidiary of Flexible Manage-ment Systems. The deal was completed at a price of $19 million and is expected to contribute $20 million of revenues to Temenos over the next 12 months. Temenos says the deal will give it access to the German market and an additional client base of more than 30 financial institutions as well as 144 new staff.