Search Share Prices
Fidessa in talks about being taken over by Temenos
Fidessa has confirmed that it is in "advanced discussions" about being taken over by Swiss banking software group Temenos for around £1.4bn of cash.
After the trading and investment management software company's shares rose almost 12% the day before, as it put out its final results, the FTSE 250 company's directors said that if the discussions result in a firm offer they intend to recommend it to shareholders.
Under the current terms of the talks, Geneva-headquartered Temenos would offer 3,567p cash per Fidessa share, with shareholders also receiving the 79.7p final and special dividends announced last week's final results. So, in total the possible offer is worth 3,6467p per share.
Temenos has until 1700 GMT on 20 March to announce a firm intention to make an offer for Fidessa, according with London Stock Exchange rules.
Fidessa's final results last week showed revenue rising 7% to £353.9m and adjusted profit before tax 10% to £54.3m in the past calendar year.