US buyout firm Vista Equity Partners announced late on Monday that it has made an approach to buy British banking software company Misys. Although no price was mentioned analysts value the deal at an estimated £1.2bn or 360p a share.
Vista’s move comes just two weeks after Misys confirmed that it was approached by Swiss-based rival Tenemos. It is believed that this takeover bid could now wreck an agreed merger between Tenemos and Misys.
According to a Vista spokesperson, the potential deal will now depend on “a recommendation from Misys board of directors and the completion of due diligence.”