Ad hoc – Temenos Announces the Sale of Multifonds for About USD 400 Million
Temenos AG (SIX: TEMN), the banking software company, today announces it has signed an agreement to sell Multifonds, its fund administration software business, to Montagu Private Equity, a leading European private equity firm, for a total Enterprise Value of about USD 400 million including an earnout. The Multifonds executive management team will invest alongside Montagu.