August 28, 2019 / 3:59 PM / 20 days ago

BRIEF-Temenos To Acquire Kony For 559 Million Dollars

Aug 28 (Reuters) - TEMENOS AG:

* TEMENOS TO ACQUIRE KONY

* HAS AGREED TO PURCHASE KONY FOR AN ENTERPRISE VALUE OF USD 559 MILLION AND AN EARN-OUT OF USD 21 MILLION

* TRANSACTION IS DUE TO BE COMPLETED BY EARLY Q4 2019

* KONY’S TOTAL REVENUE IS EXPECTED TO REACH C.USD 115 MILLION IN 2020, AND IS EXPECTED TO BE ACCRETIVE TO TEMENOS GROWTH FROM 2020

* ACQUISITION IS EXPECTED TO BE NON-IFRS EPS NEUTRAL IN 2020, ACCRETIVE FROM 2021 AND TO REACH GROUP MARGINS WITHIN THREE YEARS Source text: bit.ly/2ZwTAPN Further company coverage: (Gdynia Newsroom)

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