March 05, 2012

A third group has entered the fray to acquire London-based financial services software vendor Misys.

CVC Capital Partners and ValueAct Capital, currently the largest shareholder in Misys, are considering a joint bid for the software company. The group has until April 5 to announce if they will make an official offer or not.

Last month, San Francisco-based private equity firm Vista Equity Partners made a nonbonding proposal to acquire London-based financial software vendor Misys. This came on the heels of protracted talks between Misys and Swiss core banking provider Temenos on a potential deal.

Misys said it will continue talking to both Temenos and Vista on a possible deal, and has formed an independent committee to consider all three proposals.

In a note to investors, ValueAct CEO Jeffrey Ubben said the merger with Temenos has "strategic logic," but after further consideration "we have decided to evaluate whether we can make an alternative proposal that provides the certainty of cash upon completion. ValueAct remains committed to ensuring the best value for all Misys shareholders from any possible transaction."

ABOUT THE AUTHOR
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as ...