Vista Equity Partners may offer nearly $2 billion in cash to acquire Misys Plc, a week after the financial software developer tentatively agreed to merge with a different company.
On Feb. 7, Reuters reported that Misys and Temenos Group AG had agreed “on several key terms” of a merger deal. Such a deal would have created the world’s largest vendor of banking software, Bloomberg wrote.
Then early on Monday, Misys said it had received a “non-binding proposal” from San Francisco-based Vista, wherein Vista proposed to acquire all of Misys’ outstanding shares for cash.
Vista later said it would wait for a recommendation from Misys’ board, as well as the completion of its own due diligence, before sending out an official offer. The Financial Times has said Vista may end up offering $1.9 billion in cash to complete a deal.