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Misys approached by private equity group

12 June 2006  |  9646 views  |  0 Misys

Banking systems vendor Misys - which admitted on Friday that it was holding management buyout talks - has received a separate approach from private equity groups General Atlantic Partners and Permira, according to a Financial Times report.

The private equity pairing is thought to have been in talks with Misys management for "some months", says the FT report, which cites a person close to the situation.

According to the report, Misys has also attracted the interest of buy-out firm Texas Pacific Group.

Shares in the struggling banking systems vendor closed 20% higher at 222 pence on Friday after the group confirmed that some members of its senior management were exploring the possibility of making an offer for the company.

Misys has established an independent committee of the board to consider the request.

The company said no price had been discussed, but analysts have suggested that bids could be in the region of 250 pence a share.

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