LONDON (AP) -- British financial software company Misys PLC has agreed to a takeover offer from private equity group Vista Equity Partners which values the company at 1.27 billion pounds ($2 billion).
Misys announced Monday that its directors were backing an offer of 350 pence per share from Magic Bidco Ltd., indirectly owned by Gibraltar-based Vista Equity Partners.
The price is a 32 percent premium over the average price of Misys shares for the three months to Feb. 2, when Misys and Swiss competitor Temenos Group AG announced they were discussing a possible tie-up. Those talks broke up on March 12, but Temenos reserved the right to make a new approach if a rival offered emerged.
- Misys PLC