Temenos Group, a provider of integrated core banking systems, has signed a definitive agreement to acquire 100% of the shares in ACTIS.BSP Germany GmbH for US $19 million in cash.
ACTIS.BSP, a fully owned subsidiary of Flexible Management Systems limited (FMS), is a Germany-based provider of core banking and securities applications.
“Temenos is a leading worldwide provider for banking systems, enabling our customers to secure their investment,” says Mike Shone, chairman FMS.
“The strength of Temenos and its advanced technology, combined with ACTIS.BSP’s in-depth knowledge of the German banking market will be a solid basis for a successful future ofACTIS.BSP, its customers and employees.”
“Germany represents a sizeable and important market for Temenos and the acquisition gives us the ability to achieve a faster entry and accelerate our sales in this region as well as provide our existing global clients with additional regional expertise,” says Andreas Andreades, CEO, Temenos.
“We are confident that clients and staff alike from both companies will benefit both today and in the future.”