10:56 AM
Misys Acquires Sophis
Misys, the buy side solution provider, announced plans to acquire Sophis, the capital markets software solutions, to be acquired for an equity value of €273 million Euros ($375m).
Sophis's buy-side solutions will be "very complementary to Misys's sell-side strengths," according to a press statement released by Misys.
Mike Lawrie, chief executive of Misys, comments: "Sophis's solutions are highly complementary to our existing treasury and capital markets solutions. We are delighted with the strength of the Sophis management team that will be joining us."
The acquisition is subject to Misys shareholder approval and completion is expected before the end of February 2011. Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio