Temenos Group: Disposal of the ActiveBank business
BUY, Fair Value CHF28 (+21%)
Third Financial acquires the ActiveBank product. Two days ago, the Wealth Management software vendor Third Financial, based in London and near Birmingham with 30 staff, announced the acquisition of the ActiveBank business from Temenos for an undisclosed sum. ActiveBank was a Core banking platform inherited from the Financial Objects acquisition in 2008 in the UK, and addressed domestic retail banks (UK and Scandinavia).
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