February 20, 2018 / 6:32 AM / 2 years ago

Temenos says in advanced talks to make cash offer for Fidessa

ZURICH, Feb 20 (Reuters) - Swiss banking software supplier Temenos said on Tuesday it was in advanced discussions regarding a possible all-cash offer for Britain’s Fidessa Group .

Under the proposed terms of the possible offer, Fidessa shareholders would get 35.67 pounds ($49.82) in cash for each share together with the right to receive the dividends announced on Monday with Fidessa’s full-year results, Temenos said in a statement.

Temenos said the board of Fidessa would recommend an offer at this level, but there was no certainty at this stage that any offer would be made.

Fidessa Group has a market capitalisation of 1.13 billion pounds, according to Thomson Reuters data. The stock closed at 29.15 pounds on Monday. ‍​

$1 = 0.7159 pounds Reporting by Silke Koltrowitz; Editing by Michael Shields

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