February 21, 2018 / 6:38 AM / 3 months ago

BRIEF-Temenos: Recommended Acquisition Of Fidessa Group Plc

Feb 21 (Reuters) - TEMENOS GROUP AG:

* RECOMMENDED ACQUISITION OF FIDESSA GROUP PLC (“FIDESSA”) BY TEMENOS GROUP AG (“TEMENOS”)

* ‍FIDESSA SHAREHOLDERS WILL BE ENTITLED TO RECEIVE £35.67 IN CASH FOR EACH FIDESSA SHARE​

* TRANSACTION EXPECTED TO COMPLETE IN FIRST HALF OF 2018

* TEMENOS - FIDESSA SHAREHOLDERS TO RECEIVE AND RETAIN FINAL DIVIDEND AND SPECIAL DIVIDEND TOGETHER AMOUNTING TO 79.7 PENCE IN AGGREGATE PER FIDESSA SHARE

* ‍TEMENOS BOARD EXPECTS TRANSACTION TO GENERATE $60 MILLION PER ANNUM OF RUN-RATE PRE-TAX COST SYNERGIES​

* ENLARGED GROUP EXPECTED TO HAV FOR YEAR ENDED DEC. 31, 2017, REVENUES IN EXCESS OF $1.2 BILLION AND EBITDA MARGIN OF 32.3%

* TEMENOS - EXPECTS TRANSACTION, ON ADJUSTED EARNINGS PER SHARE BASIS, TO BE EARNINGS ACCRETIVE FOR TEMENOS IN 2018

* ENTERED BRIDGE FACILITY AGREEMENT WHICH PROVIDES TERM LOAN FACILITIES IN AGGREGATE PRINCIPAL OF GBP 1.43 BILLION​ Source text - bit.ly/2ojQBqf Further company coverage: (Gdynia Newsroom)

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