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Temenos Pulls Out of Misys Merger Talks

The company said it could not come to an agreement with Misys on a merger deal.

Swiss core banking provider Temenos today said it has ended talks with U.K. financial services vendor Misys regarding a potential merger.

In a statement to investors, Temenos said the two sides were unable to reach an agreement and "Temenos confirms that discussions between the two parties have now been terminated."

The Temenos announcement is the latest news in a long and circuitous path of Misys merger and acquisition possibilities. In February, the two companies came to a deal in principle on terms of a merger, but it was never completed. That came after an unsuccessful effort by Fidelity National Information Services to take over Misys for $2.2 billion in August 2011.

After the Temenos-Misys deal in principle was announced, San Francisco-based private equity firm Vista Equity Partners made a nonbonding proposal to acquire. Then in March, CVC Capital Partners and ValueAct Capital, current shareholders in Misys, said they would consider a joint bid for the company.

In a statement of its own, Misys said talks are ongoing with Vista, CVC and ValueAct about potential cash offers.

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 a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio

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