Misys on the block as Vista Equity Partners agrees Tibco acquisition

Misys on the block as Vista Equity Partners agrees Tibco acquisition

Vista Equity Partners is seeking buyers for core banking supplier Misys after agreeing a $4.3 billion deal to acquire business process software firm Tibco.

Under the terms of the agreement with Tibco, Vista will acquire all of Tibco's outstanding common stock for $24.00 per share in cash, a 26.3% premium to the firm's closing price last week before rumours began to circulate about a possible sale.

The transaction, which is expected to close in the fourth calendar quarter of 2014, is subject to approval by Tibco stockholders, regulatory approvals and other customary closing conditions.

News of the deal broke as the FT reported that Vista has put the financial services business of Misys on the block. Vista acquired Misys two years ago for £1.27 billion after merger talks with Swiss rival Temenos collapsed.

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