Misys has agreed to buy Sophis, a vendor of capital markets software solutions, for an an enterprise value of £375m. The acquisition strengthens Misys’ position as an application software and services provider in the capital markets. Sophis’s buy-side solutions are very complementary to Misys’s sell-side strengths, according to Misys.
Mike Lawrie, Misys chief executive officer (CEO), said: “I am delighted to announce this significant acquisition that progresses Misys further in the leadership phase of its transformation. Today we are creating the leading application software and services provider in capital markets. Sophis’s solutions are highly complementary to our existing treasury and capital markets solutions. We are delighted with the strength of the Sophis management team that will be joining us.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.