Misys buys Germany's Intesio for EUR10m
14 February 2006 | 5934 views | 0
UK banking systems vendor Misys has acquired Intesio, a Germany-based provider of multi-channel retail banking technology, for EUR10 million in cash.
Intesio is based in Bad Nauheim and Dresden and supplies front and middle office software components to financial institutions. The Intesio Process Suite (IPS) is a scalable and platform-independent multi-channel system with multi-client ability that allows straight-through processing from the front-end (Internet, call centre, branch, mobile and self service) to the core banking system.
Misys says the acquisition will strengthen its multi-channel retail banking offering. The Intesio software will become part of Misys Enterprise Channel Banking suite, which is part of the the Equation Plus framework.
Clive Pedder, chief operating officer, core banking, Misys Banking Systems, says the vendor has worked closely with Intesio for over two years on joint projects and the acquisition "brings a wealth of expertise".
He says the Misys Enterprise Channel Banking suite will enable banks to "significantly improve their multi-channel integration".
The acquired business is expected to perform close to break even during the remainder of the current financial year as the process of integrating it with the Misys Equation Plus product family is commenced.
Last month Misys said it was restructuring its banking systems business following a 25% decline in first half operating profits. The vendor is merging its retail and wholesale banking operations into a single unit, called Core Banking, in order to meet customer demand for technology that can support both retail and wholesale banking operations.