As part of this acquisition, Misys and Turaz, the business that includes the Kondor+ product line, are now one company operating as one under the name “Misys”, according to a News statement released in their new looking Corporate Website.
The acquisition is a victory for the Vista business, which in March this year derailed a rival bid for Misys by Temenos, the European firm.
Misys serves 1,800 clients in 120 countries, making it one of the biggest wealth technology players of its type.
“In an environment where change is rapid and budgetary constraints are real, firms that we observe are successful in pushing IT budgets further and taking costs out of the business are pursuing paths to consolidate applications, reduce integration costs, and rationalize supplier relationships in order to drive higher efficiencies and manage the excessive costs of complexity,” Cubillas Ding, research director at Celent, said.
Prior to the latest deal, Vista Equity Partners has completed 68 software and software-related transactions totalling more than $14.8 billion in aggregate value, including the recent acquisition of Turaz, a provider of trade and risk management software globally