Buyout giant Permira set to join Misys suitors
Buyout giant Permira could scupper Swiss group Temenos’ plans to take over British banking technology firm Misys.
A successful Misys deal with Temenos would create the world’s largest financial software producer with a market value of almost £2bn.
Possible merger: Misys, the British firm that makes software for banks, is in merger talks with Swiss rival Temenos
But private equity house Permira, which focuses on technology, media and telecoms firms, is understood to be looking at the British group, and may not be the only vulture circling.
News that Misys and Temenos are in talks means it is ‘open season’ for other potential suitors, a source close to the situation said.
But any formal approach will have to be made by March 6 to give Permira any chance of wooing investors.
Shares in Misys rose more than six per cent to close 18.1p higher at 308.4p as rumours swirled, and all parties declined to comment.
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