Banking software supplier Temenos looking to acquire Fidessa for £1.4bn
Swiss-based banking software company Temenos has stated that it is in advanced talks to acquire Fidessa, a leading UK-based software trading provider, in an all cash deal, valued at £1.41bn.
The offer equates to £35.67 in cash per Fidessa share, reflecting a 25.1% premium on the company’s unaffected share price.
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The UK firm has revealed that it intends to accept the offer should it be made, however, there is not guarantee that this will happen at this stage.
“Should a firm offer be made… the Board of Fidessa intends to recommend its acceptance to Fidessa shareholders,” Temenos said.
“There can be no certainty that any offer will ultimately be made for Fidessa.”
The move makes sense for Temenos, with Fidessa recently having announced a 7% rise in its revenues last year to £353.9mn.
Fidessa’s shares jumped to an all time high off the back of the announcement, valued at £29.15, with a market cap of £1.1bn.
