20 October 2017
Register now

Misys sells Apollo business to Atos Euronext Market Solutions

18 July 2006  |  11245 views  |  0 Misys

UK banking systems vendor Misys has sold its France-based asset management software business, Apollo, to Atos Euronext Market Solutions (AEMS).

In a short statement Misys says gross assets disposed of in this transaction amount to EUR2.4 million.

The vendor says the sale completes the disposal of its businesses in the asset management sector.

Apollo currently offers two key products - Apollo for Institutional Management and Apollo for Private Wealth Management - to clients such as BNP PAM, HSBC, Natexis, WestLB and Indosuez BGPI.

Commenting on the acquisition, Jean-Marc Bouhelier, chief executive officer, AEMS, says the Apollo business and team "will further enhance our position as the key provider of technology solutions for private and institutional asset managers".

The independent directors at Misys began examining competing bids for the company yesterday.

The vendor was effectively put up for sale last month when members of its senior management led by chief executive Kevin Lomax put forward a possible management buyout proposal.

Misys' former banking systems boss Ivan Martin is also rumoured to be in the running with a potential £1 billion offer.

Private equity houses Permira and General Atlantic Partners have also made an offer, while fintech giant Sungard has also expressed an interest in the bidding for the company.

Earlier this week three former directors of Misys - Ross Graham, John Sussens and Mike O'Leary - proposed a "management walk-in" and are seeking to take over management control of the UK banking systems vendor in a bid to prevent shareholders selling the company on the cheap.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Former directors bid for control of Misys

Former directors bid for control of Misys

17 July 2006  |  8697 views  |  0 comments
Misys rises as Ivan Martin, Sungard join bid rumour mill

Misys rises as Ivan Martin, Sungard join bid rumour mill

03 July 2006  |  12840 views  |  0 comments
Misys takes £14m charge on banking systems restructuring

Misys takes £14m charge on banking systems restructuring

21 June 2006  |  8065 views  |  0 comments
Misys takes the axe to banking systems business

Misys takes the axe to banking systems business

20 June 2006  |  9932 views  |  0 comments
Misys approached by private equity group

Misys approached by private equity group

12 June 2006  |  9646 views  |  0 comments
Misys confirms MBO interest

Misys confirms MBO interest

09 June 2006  |  7154 views  |  0 comments
Misys banking systems boss quits after just one month

Misys banking systems boss quits after just one month

20 April 2006  |  12302 views  |  0 comments
Atos Euronext invests in Coexis

Atos Euronext invests in Coexis

02 March 2006  |  8792 views  |  0 comments
Misys Asset Management upgrades Apollo private client system

Misys Asset Management upgrades Apollo private client system

16 October 2003  |  5087 views  |  0 comments
JBWere implements Misys' Apollo for portfolio management

JBWere implements Misys' Apollo for portfolio management

15 April 2003  |  4169 views  |  0 comments
Misys tailors Apollo for UK wealth management

Misys tailors Apollo for UK wealth management

22 November 2002  |  3784 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.capgemini.comvisit www.sibos.com

Top topics

Most viewed Most shared
satelliteGates Foundation backs Ripple collaboratio...
8394 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8210 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7370 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6749 views comments | 10 tweets | 21 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6408 views comments | 14 tweets | 23 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job