Misys Agrees to Takeover Bid from Vista
Misys has agreed to be bought by Vista Equity Partners for £1.27 billion (approximately $2.3 billion).
The deal comes after Misys walked away from a long-planned merger with rival banking software company Temenos, following shareholder unrest. ValueAct, which holds a 21.5 percent stake in Misys, did not post an offer for the company.
Vista Partners, which specializes in the financial services sector, recently purchased Kondor+ from Thomson Reuters, which has been relaunched under the Turaz banner. The firm has said that it aims to combine Misys and Turaz.
The offer is still to be agreed by shareholders, and a counter bid can still be launched by ValueAct or a consortium of interested parties.
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