7 December 2006 - Misys Banking Systems, a global leader in banking software and solutions, announces today that it has acquired S.C. Fino Capital SRL, a Romanian financial software development services business, that will increase its development capabilities in the treasury and capital markets arena.
With Fino, Misys is acquiring management and employees who provide specialist development services for the financial services industry. The team has grown rapidly and has built significant domain, industry and technical expertise in the OTC derivatives arena and specifically in the Misys Summit product range. Capabilities encompass financial software design, development, maintenance, testing, quality assurance and support, with solutions provided for all parts of the financial institution, from front-office trading, through middle-office risk management, to back-office accounting, operations and documentation.
Ed Ho, CEO Treasury & Capital Markets, Misys Banking Systems, comments, "This acquisition will significantly enhance our development capabilities, accelerating and broadening delivery of the product roadmap to our clients. With a rapidly growing customer base and increased functional requirements, this is the number one priority for our business and we are very excited by the opportunities that this team will bring Misys and our customers."
Dan Stemate and Daniel Paunica, founders of Fino, state,, "This is a very exciting time for us. Our team has an excellent relationship with Misys and we are very much looking forward to further integrating our efforts with the Misys Summit team. The market is demanding ever more innovative products from vendors and as one team, we will be able to deliver market-leading solutions faster, increasing the value we deliver to customers."
Donal McGranaghan, Head of Treasury & Capital Markets Development, Misys Banking Systems, adds, "We have a long-standing and very fruitful relationship with the employees and management of Fino and by further integrating with the Summit product centre we will gain greater development efficiencies. I am delighted we have this opportunity to deliver an even more rapid response to client requirements."
The Misys Summit portfolio of products, including Summit, Summit FT and Summit MUST, is part of the Misys Treasury & Capital Markets product family, which is the largest set of products in the industry focused specifically on the capital markets. They are a proven, award-winning set of multi-asset class solutions for treasury and capital market innovators. Sophisticated trader tools and risk management combine with rules-based workflow and real-time trade processing to deliver the right information to the right people, at the right time. Recently Misys Summit has received much industry recognition:
- Misys Summit MUST was integral to Misys Banking Systems winning "Technology Company of the Year, Asia" from Structured Products Magazine
- Misys Summit achieved first place in two of the categories in Risk Magazine's Annual Technology Rankings.
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For further information please contact
Edward Taylor
Global Head of Public Relations
Misys Banking Systems
+44 (0) 208 486 1661
edward.taylor@misys.com
Caroline Parker
Financial Dynamics
+44 (0) 207 269 7295
caroline.parker@fd.com
About Misys Banking Systems
Misys Banking Systems supplies over 1,200 customers in more than 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,500 people around the world and sales, implementation and customer support teams in nearly 30 countries. One third of the world's commercial loans, half of traded loan volumes and one in every eight global FX transactions are conducted using Misys systems. Misys invests heavily in research and development and is one of the top industry spenders, investing nearly ten per cent of total revenue per annum. Misys Banking Systems is part of Misys plc.
About Misys plc
Misys plc (FTSE: MSY.L), the global software and solutions company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com
Misys. Making things that really matter, work better.





