Exceptional trading, investment and information solutions for the world's financial community.

New technology, new regulation, new challenges: making money in today's financial markets is all about staying ahead of the curve. Having the capability to spot new trends and act fast turns change into opportunity. That's why 85% of the world's premier financial institutions trust Fidessa to provide them with their multi-asset trading and investment infrastructure, their market data and analysis, and their decision making and workflow technology.

It's also why $15 trillion worth of transactions flow across our global network each year. Because we're the market leader, we can also offer unique access to the world's largest and most valuable trading community of buy-side and sell-side professionals, from global institutions and investment banks to boutique brokers and niche hedge funds.

Fidessa is a global business with scale, resilience, ambition and expertise. We've delivered around 25% compound growth since our stock market listing in 1997 and we're recognised as the thought leader in our space. We set the benchmark with our unrivalled set of mission-critical products and services and, uniquely, serve both the buy-side and sell-side communities. Ongoing investment in our leading-edge, integrated solutions ensures Fidessa remains the industry's number one choice.

http://www.fidessa.com/

Final results

Highlights for the period ended 31st December 2017:
· Solid revenue growth across all regions.
· Good international spread with 66% of total revenue accounted for outside of Europe.
· Continued strong growth in multi-asset revenue with 10 new derivatives deals signed.
· Recurring revenue representing 88% of total revenue.
· Increasing capacity for investment in new opportunities or raised margin.
· Constant currency adjusted profit before tax increased 5%.
· Strong cash generation with £92.4 million cash balance after net outflows in the year of £10.1 million associated with the Jersey City office move and dividend payments of £36.0 million.
· Final and special dividends totalling 79.7 pence proposed, bringing the total 2017 payout to 95.0 pence per share, a total value of £36.6 million.

19 Feb
Jefferies...
3,100.00
Buy
19 Feb
Numis
3,070.00
Add

Possible offer for Fidessa by Temenos
RNS
RNS Number : 3600F
Fidessa Group PLC
20 February 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS IS AN ANNOUNCEMENT MADE UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"). IT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER WHETHER UNDER RULE 2.7 OF THE CODE OR OTHERWISE AND THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

20 February 2018

Possible offer for Fidessa Group plc ("Fidessa") by Temenos Group AG ("Temenos")

Further to the movement in Fidessa's share price yesterday, the Boards of Fidessa and Temenos confirm that they are in advanced discussions regarding a possible all cash offer by Temenos for the entire issued and to be issued share capital of Fidessa (the "Possible Offer").

Under the proposed terms of the Possible Offer, Fidessa shareholders would receive £35.67 in cash for each Fidessa share together with the right to receive the final and special dividends announced on 19 February 2018 with Fidessa's full-year results, which, in aggregate, are worth £0.797 per Fidessa share. The total value of the Possible Offer is therefore £36.467 per Fidessa share.

Should a firm offer be made pursuant to Rule 2.7 of the Code by Temenos at the level of the Possible Offer, the Board of Fidessa intends to recommend its acceptance to Fidessa shareholders.

This announcement has been made with the consent of Temenos. Temenos reserves the right to vary the form and/or mix of the consideration described in this announcement; and to make an offer for Fidessa on less favourable terms: (i) with the recommendation or consent of the board of Fidessa; (ii) if Fidessa announces, declares or pays any dividend or distribution to shareholders other than the final and special dividends Fidessa has announced in respect of the year ended 31 December 2017 of, in aggregate, £0.797 per share, in which case Temenos reserves the right to make an equivalent reduction to the proposed offer price; (iii) if a third party announces a firm intention to make an offer for Fidessa on less favourable terms than the Possible Offer, or (iv) following the announcement by Fidessa of a "whitewash" transaction pursuant to the Code.

There can be no certainty that any offer will be made.

In accordance with Rule 2.6(a) of the Code, Temenos is required, by not later than 5.00 pm on 20 March 2018, to announce a firm intention to make an offer for Fidessa in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

A further announcement will be made when appropriate.

Fantastic day. :-))

Bullseye, DC.

About time midnight. Held since June 2012. :-))

Recommended cash acquisition

Market price higher than offer cum divi.

Proactive investor - Fidessa upgraded to 'neutral' by UBS after agreeing Temenos takeover
Share
10:41 05 Mar 2018
UBS has suggested Fidessa moves roles offshore to improve its operating margins

Fidessa's deal with Temenos is expected to deliver cost synergies of US$60mln
Fidessa PLC (LON:FDSA) has been upgraded by UBS after agreeing to be taken over by Swiss banking software firm Temenos AG.
Temenos is paying £35.67 per Fidessa share in an all-cash deal that values the UK software company at about £1.4bn.
READ: Fidessa agrees takeover bid from Swiss banking software company Temenos for around £1.4bn
UBS raised its rating on the stock to ‘neutral’ from ‘sell’ and lifted its target price to 3,647p from 2,140p.
The deal is expected to deliver cost synergies of US$60mln, including US$50mln in operational efficiencies and US$10m in duplicated costs.
UBS said US$39mln of cost savings could come from the reduction of 300 roles in general and administration while a further US$11mln could be generated by moving jobs in research and development and in support offshore.
The bank pointed out that Fidessa’s average salary per employee of US$129,000 is above the peer group average of US$95,000.
“Whilst we believe that Fidessa has a robust business model, driven by highly visible recurring revenues (88%), it has one of the lowest operating margins in our software coverage,” UBS said.
“With the company currently run without taking advantage of on-/offshore capabilities, we think it has a suboptimal cost structure.”
Shares in Fidessa were little changed

Shares - Fidessa up 45.40% YTD

Financial services software and data provider Fidessa said it had received approaches from two separate parties considering making a higher bid for the company than an existing £1.4bn offer from Swiss-based Temenos.

One of the two parties had suggested an offer that would represent a 5% premium to the Temenos bid, Fidessa said.

Temenos had offered £36.467 per share in cash, while the other offer would comprise £38.297, also in cash. No details were provided regarding the second new approach.

'Discussions with the third parties are ongoing and there can be no certainty that a formal offer from either will be forthcoming or as to the terms of any such offer,' Fidessa said.

A shareholder meeting to consider the Temeons bid, due to be held this Thursday, had been adjourned to allow the company to explore the possible rival offers in more detail.

At 1:40pm: (LON:FDSA) Fidessa Group PLC share price was +405p at 4070p

4170 at close. Wow.

:-))

13 Apr
Barclays...
3,650.00
Equal weight

Statement regarding Fidessa Group Plc
RNS
RNS Number : 6940L
Temenos Group AG
20 April 2018

20 April 2018
Statement regarding Fidessa group plc ("Fidessa") and proposed USD 250m share buyback
Temenos Group AG ("Temenos") notes the announcement by Fidessa today. The Board of Temenos announces that it does not believe that it would be in the best interests of Temenos shareholders for Temenos to amend the terms of its offer for the entire issued and to be issued ordinary share capital of Fidessa which was announced on 21 February 2018 (the "Proposed Acquisition"). The Board of Temenos recognises the importance of maintaining strong financial discipline and carefully considering capital allocation in order to optimise shareholder returns. Accordingly, Temenos will not be making a revised offer for Fidessa.
In light of the announcement by Fidessa today that it proposes to adjourn the Scheme Court Meeting and the General Meeting that had been convened to consider the Proposed Acquisition, the Board of Temenos confirms that it will not consent to an extension of the date by which the Scheme Court Meeting and the General Meeting must be held, and therefore, should there be an adjournment of either the Scheme Court Meeting or the General Meeting, the Proposed Acquisition will lapse in accordance with its terms on 28 April 2018. Further, in light of the announcement by Fidessa, Temenos has notified Fidessa of the termination of the Co-operation Agreement in accordance with its terms.
Commenting on the announcement, Andreas Andreades, Executive Chairman of Temenos said:
"We have a very significant addressable market in the banking segment which is seeing strong growth underpinned by multiple structural drivers including digitisation, regulation and the move to open banking. We are the leader in this winner-takes-all market, having won all the key strategic deals, and expect our business to continue to achieve double-digit organic revenue growth annually as we pull further ahead of the competition.
In this context we decided it was not in the best interest of our shareholders to raise our offer price for Fidessa. I am confident we will continue delivering very strong shareholder value as we grow the business and are in an excellent position to take advantage of other opportunities to enter adjacent segments as they arise in a manner that will create exceptional value as we are doing in our core business, and capture a greater share of the IT and software spend of banks."
The Board of Temenos has also given approval for a share buyback of up to a total of USD 250m to be launched in Q2 2018, subject to regulatory approval. The share buyback will be funded through Temenos' strong cash flow generation, with the company's leverage expected to be maintained at 1-1.5x EBITDA by year end. Temenos intends to use the repurchased shares for potential acquisitions and/or for any other corporate purposes.
Capitalised terms used, but not defined, in this announcement shall have the same meaning as set out in the scheme document published by Fidessa in connection with the Proposed Acquisition on 13 March 2018.