FIS confirms cash offer for Misys

FIS confirms cash offer for Misys

US fintech house FIS has confirmed that it is the mystery suitor behind a preliminary takeover approach for Misys.

After sustained speculation, UK banking software and treasury systems vendor Misys confirmed on Tuesday that it has received an approach, but stressed a deal was far from certain.

SunGard, HCL, Temenos and Fiserv have all been touted as potential bidders but FIS issued a statement today confirming that it has made a "preliminary approach regarding a possible cash offer" for Misys.

Citing "people familiar with the situation", the FT says FIS has brought in Bank of America Merrill Lynch and Deutsche Bank to advise on a deal that would be for both parts of the Misys business, currently valued at around £1.4 billion.

Florida-based banking and payment technology giant FIS was almost taken over itself last year by a consortium of private equity firms before the $15 billion deal collapsed.

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