There is renewed speculation around a takeover of the Geneva-based banking software company.
A group of investors including private equity firm EQT, were close to purchasing banking software company Temenos in February, «The Market« reports (in German, behind paywall), citing anonymous sources.
The deal fell through because the offer did not meet Temenos board of directors’ price expectations, the report writes. EQT, which is part-owned by the Swedish Wallenberg family, is said to have offered a 50 percent premium on the share price at the time.
Temenos, which is listed on the Swiss stock exchange SIX, has also drawn interest from US investor Thoma Bravo, according to previous reports.
Dashed Hopes
Swiss banking software houses are highly sought-after targets for big market players. US private equity firm Warburg Pincus, invested in Avaloq in 2017 with the intention of taking the company public within three years. Yet these plans came to nothing and in the second half of 2020, Japanese technology group NEC Corporation took over the IT company fully.
