Misys said that it has completed its acquisition of IND Group, building on the partnership which signed between the two in March 2013.
Misys described IND as an innovator and provider of award-winning online and mobile banking, personal finance management and payments solutions. Founded in 1997, it now has more than 30 clients around the world, including Alior, Erste Bank, and UBS, supported by over 200 employees based from eight offices.
“This is very exciting for us and our customers,” commented Nadeem Syed, chief executive (CEO) of Misys. “The market for digital banking is exploding. More than half a billion people already use mobile devices for personal banking and this is set to double in the next four years.
“This deal reinforces our digital banking proposition in this rapidly expanding area by adding world-class consumer-oriented solutions to our offering. It helps us continue to grow our business, following six straight quarters of revenue growth, and secure our leadership position in banking.”
“The acquisition of IND Group makes perfect strategic sense,” commented Alex Kwiatkowski, head, IDC/Financial Insights Europe. “The timing is ideal in order to capitalise on the opportunities which are emerging in Europe and Asia.
“IDC believes IND’s advanced digital banking platform will fit seamlessly into the existing Misys product portfolio, delivering new omni-channel services and enhanced experiences to banks and their customers.”
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