Vista Equity Partners has completed its acquisition of Misys and has integrated it with Turaz, the trade and risk management software provider. The combined firms will take the Misys brand.
Misys agreed to be bought by private equity firm Vista for 1.27 billion in March after talks of a merger with rival Temenos broke down earlier this month.
The financial services industry has gone through considerable change in the last few years, with growing pressure on financial institutions to be more transparent, manage risk more effectively and serve their customers better, says Bret Bolin, who was appointed CEO of Misys and previously was CEO of Turaz. Our clients are focused on making sure their businesses are operating as efficiently as possible while still maintaining their competitive edge. Misys is unique in its ability to help banks of all sizes look at their organizations most complex problems at both an enterprise as well as a granular level. By combining Misys with Turaz the new organization will stand out from the crowd in terms of both the breadth and completeness of coverage across banking, and sell-side and buy-side institutions.
Misys has 1,800 customers in 120 countries, providing a portfolio of banking, treasury, trading and risk solutions.
(CG)