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Vista to Buy Misys for $2B

Days after merger talks with Swiss rival Temenos fell through last week, Misys, a British provider of software services to the financial services industry, says Vista Equity Partners has offered to take it over for 1.

27 billion pounds ($2 billion).Under the terms of the deal announced on Monday, Magic Bidco, an investment vehicle created by the Vista Funds for this acquisition, will buy all shares and capital of Misys for 350 pence per share.The transaction represents a premium of 7.5% to Misys’ trading price on Feb. 2, the last day in February before its discussions with Temenos were disclosed.It will combine Misys with Vista’s trade and risk management software company Kondor, which it acquired from Thomson Reuters (NYSE:TRI) last year.“Through our deep experience with enterprise software companies, we believe that Misys has an attractive future that we plan to invest in and grow,” Vista CEO Robert Smith said in a statement.Misys said its independent board of directors consider the a...

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