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Temenos Acquires Actis BSP for 19 million

3/29/2007

Temenos Group, the provider of integrated core banking systems, has acquired Actis.BSP of Germany for $19 million. Thisday gathered that the transaction will contribute approximately USD 20 million of revenues to Temenos over the next 12 months. Temenos has also retained its prime position in the newly released International Banking Service (IBS) rating. The latest rating placed Temenos T24 banking software in the second position in its Sales League Table 2006 in the universal banking category. Temenos T24 is currently being used by seven consolidated Nigerian banks and the Central Bank of Nigeria.The new licence sold by the company saw a 25 per cent increase in 2006 with 40 new clients, giving it a customer-base of 440 banks in this category, the largest of any core banking product. The report also records one sale of Temenos CoreBanking (TCB) with a retail client base of 79. On the acquisition of ACTIS BSP, a fully owned subsidiary of Flexible Management Systems limited (FMS), a leading Germany-based provider of core banking and securities solutions.

Source Link: thisdayonline

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Temenos Acquires Actis BSP for 19 million

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