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Misys up on bid rumours

13 May 2008  |  10887 views  |  0 ticker 2

Shares in British banking systems firm Misys continued to edge up today on the back of renewed speculation that a rival vendor is gearing up to make a bid for the business.

Shares in Misys rose over six per cent on renewed market talk of a possible bid for the company.

According to a Reuters report, rival vendors Temenos and i-flex solutions have been cited by traders as being linked with a possible takeover move for Misys.

By mid-afternoon the stock was up 6.70% to 179.00 pence, having earlier hit 181.50 pence.

Misys shares also rose over six per cent last Wednesday on market rumours of a 210-220 pence per share bid for the business. However it is thought that some dealers have ruled out the possibility of a deal until Misys completes the merger of its struggling healthcare unit with US-based Allscripts Healthcare Solutions.

In a separate move, earlier this week US CRM software vendor Salesforce.com said Misys is deploying its Customer Portal package to 55,000 users across miltiple business units. Around 2500 Misys employees already use the vendor's call centre technology.

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