PE Firm To Acquire Misys

Vista Equity will pay $2.1 bln for financial software company.

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.

‘Invest and Grow’

Revenue fell 12 percent in the third quarter through Feb. 29, while orders dropped 18 percent, as customers delayed purchases while the company’s ownership was being decided, Misys said today.

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