Temenos 'still in merger discussions with Misys'
Temenos is still in discussions regarding a proposed merger with Misys.
Temenos has confirmed it is still in discussions with Misys regarding a potential merger of the two firms.
Negiotiation techniques might be being used effectively by the groups, as sources close to the deal have said it could happen within days.
The merger is valued at $2 billion (£1.27 billion) and a join-up between the two organisations could potentially improve profitability and efficiency.
Temenos claimed the European sovereign debt crisis has put the banking sector into a "state of uncertainty".
As a result of this, "we saw decision cycles lengthen substantially with a corresponding impact on license sales", the company continued.
It is understood that a rival offer for Misys from Vista Equity Partners has emerged, with this valued at $1.9 billion (£1.21 billion).
Vista is based in San Francisco and Chicago and invests in firms in the software and technology sectors.
Director at global evaluation firm American Appraisal Simon Jones told Reuters: "The Vista offer may be too good to refuse."
Posted by Ken Hayes
Source: Press reports, February 22nd