Vista Equity Partners agreed to acquire Misys Plc for 1.3 billion pounds ($2.1 billion) in cash, a week after Temenos Group AG ended talks over an all-share merger with the British financial software maker.
Vista, a San Francisco-based private equity firm, will pay 350 pence a share in a deal Misys's independent directors agreed to recommend to shareholders, the companies said today. Misys, which has jumped 42 percent this year through March 16, gained 6.8 percent to 352 pence at 10:55 a.m. in London.
Companies that sell financial software to businesses are proving attractive to private-equity firms amid tighter banking regulations. In August, Bain Capital agreed to buy a majority stake in Australia's MYOB Ltd., which had also drawn a bid from Sage Group Plc. Vista, which holds assets valued at more than $6 billion, said it plans to combine London-based Misys with Turaz, a risk-management software maker it bought recently.
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