Temenos, the Swiss banking software developer, has plans to acquire a U.K. provider of trading systems and financial information.
The Geneva-based company wants to expand to the U.K. and intends to make an offer to buy Fidessa, Temenos said in a statement today.
Temenos offered to pay 35.67 pounds per share plus a dividend of 0.797 pound per share. The stock last night traded at 29.15 pounds on the London Stock Exchange, giving the company a market value of 1.13 billion pounds.
The Swiss company said it was in advanced discussions with Fidessa about the proposed takeover and that the board of Fidessa intended to recommend the offer to shareholders once it was confirmed by the Swiss bidders.
