Temenos Group AG, a Geneva, Switzerland-based provider of mission-critical software to financial institutions, acquired Multifonds, a Luxembourg-based provider fund administration software, for €235m (approximately US$262.9m).
Global growth equity investor Summit Partners, which originally invested in Multifonds in 2006, and increased its stake in 2010, was the seller.
Founded in 1995 and led by Bertil Rouveure, Executive Chairman, Multifonds provides software to financial services institutions globally, mainly in the third-party fund administration market. The company’s integrated platform allows fund administrators to perform key accounting functions such as intra-day valuations and end-of-day NAV calculations as well as to support fund administrators in investor servicing and transfer agency functions such as investor dealing and shareholder record keeping.
Multifonds has more than 470 employees in 14 offices around the world.
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group is a provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers, and other financial institutions. With 57 offices worldwide, Temenos software is proven in over 1,600 installations in more than 150 countries across the world.
FinSMEs
06/03/2015