Misys and Temenos agree key merger terms
Temenos and Misys have agreed on some key terms for their proposed merger.
Misys and Temenos could have used negotiation techniques, as they have confirmed they have agreed certain key terms to the combination of operations and are continuing in discussions regarding the proposed all share merger.
Temenos shareholders would possess around 46.1 per cent of the combined group's share capital, while this figure would be 53.9 per cent for Misy's stockholders if the merger goes ahead.
The new enterprise would be headquartered in Switzerland and would be listed on the London Stock Exchange and possibly the SIX Swiss Exchange.
Guy Dubois, chief executive officer of Temenos, would have this position in the combined corporation, while chief financial officer of Misys Stephen Wilson would similarly remain in this role when the firms merge.
Misy's current chief executive officer Mike Lawrie is to step down on March 31st, following an employment offer from another party.
If the proposal takes place, the businesses claimed the new organisation would be a leading player in the financial services software sector.
Posted by Ken Hayes
Source: Misys press release, February 7th