Printer Friendly

Misys pounds 6m for French connection.

Midland software group Misys has spent more than pounds 6 million buying a French rival as part of its drive to expand in Europe.

Worcester-based Misys yesterday said that it was buying French software company Groupe SIP (Systeme d'Information Patrimonial) for pounds 6.4 million in a move to strengthen its position in the global asset management market.

On completion, the newly-acquired company will be integrated into ACT Financial Systems, Misys's securities systems subsidiary.

Based in Paris and Sophia-Antipolis, near Nice, Groupe SIP was formed in 1993 and has built a successful software development and consultancy business, specialising in portfolio management solutions for the front and middle office.

SIP's clients include some of the biggest players in French finance - Banque Nationale de Paris, Credit Commercial de France Capital Management, CDC Asset Management Europe and Robeco in Paris.

Misys' shares closed the day up 3p at 522p.
COPYRIGHT 1999 Birmingham Post & Mail Ltd
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:The Birmingham Post (England)
Date:Jun 8, 1999
Previous Article:US giant clamps eyes on Williams takeover.
Next Article:Touch of gloom on high street trading.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters