Temenos to Dominate Wealth Management Space with Odyssey Acquisition
Private banking and wealth management software developer Odyssey Financial Technologies has agreed to be acquired by Temenos, the Geneva-based banking technology vendor, for $81 million.
In addition to the purchase price, Temenos will assume Odyssey's debt obligations of $20.3 million, pushing the deal's total value to $101.3 million; the acquisition is expected to close in mid October.
Through the move, Temenos will add Odyssey's Triple'A Plus and WealthManager systems to its own Temenos T24
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