Software makers Temenos, Misys end merger talks

Swiss banking software maker Temenos, British rival Misys break off merger talks

Associated Press

GENEVA (AP) -- Swiss banking software maker Temenos Group AG says its talks to merge with British rival Misys PLC have ended without agreement.

Combining the two companies would have created the world's biggest producer of banking software with a market value of some $3 billion.

Geneva-based Temenos said in a statement Monday that the two sides failed to reach an agreement on the final terms of the deal.

Temenos says it reserves the right to make or participate in another offer for London-based Misys within six months.

Shares in Temenos fell 5.6 percent to 15.30 Swiss francs in Zurich, while Misys shares in London dropped 2.2 percent to 334 pence.

View Comments (0)