Buyers circle Misys as deadline looms
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[February 15, 2012]

Buyers circle Misys as deadline looms

(City A.M. (UK) Via Acquire Media NewsEdge) MISYS shares jumped six per cent to 308.4p yesterday on reports that the banking software provider has sparked interest from potential buyers in the wake of its proposed merger with Temenos.

No offers are on the table yet, but potential acquirers have until 6 March to declare interest in the British financial software maker.

Bids at this stage are expected to come from the private equity area, with some looking in the direction of FIS, whose offer to buy Misys fell through last summer.

David Johnson, an analyst at Northland Capital Partners, told City A.M,: "The deadline from the announced tie-up with Temenos will rouse attention - once the two businesses are combined it's a much larger body to try to swallow.


"But I would suggest, given the rapid pace of the merger, that other bidders have probably missed their opportunity." Temenos could lose out if Misys' shareholders, who have so far been lukewarm to the merger proposals, are enticed by a rival bid.

Under the current terms, Misys shareholders would own 53.9 per cent of the combined company.


(c) 2012 City A.M.

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