The acquisition will provide Temenos with an effective route to market in Germany and an additional client base of over 30 financial institutions, along with the expertise of ACTIS.BSPâs 144 staff. The acquisition is in line with Temenosâ growth strategy for this market and follows its recent appointment of Armin Holst as regional director for Central and Eastern Europe.
Under the terms of the agreement, Temenos will operate ACTIS.BSP through its existing offices in Frankfurt and Grosswallstadt. The company will continue to support ACTIS.BSPâs products, securing the clientsâ technology future by providing them access to Temenos products and ensuring they benefit from Temenosâ expertise and market position.
Mike Shone, chairman FMS, says: âTemenos is a leading worldwide provider for banking systems, enabling our customers to secure their investment. The strength of Temenos and its advanced technology, combined with ACTIS.BSPâs in-depth knowledge of the German banking market will be a solid basis for a successful future of ACTIS.BSP, its customers and employees.â
Temenos T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on open service oriented architecture, and uses established technology standards such as HTTP, XML and HTML. It offers a single client view across the enterprise and can support large numbers of users with true non-stop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing real-time 24/7 non-stop banking.
Andreas Andreades, CEO, Temenos, says: âGermany represents a sizeable and important market for Temenos and the acquisition gives us the ability to achieve a faster entry and accelerate our sales in this region as well as provide our existing global clients with additional regional expertise. We are confident that clients and staff alike from both companies will benefit both today and in the future.â
Temenos has an international client-base of some over 580 financial institutions and continues to attract global tier 1 and regional banks as a result of its superior products, Temenos T24â¢ and Temenosâ¢ CoreBanking.