Temenos To Acquire Kony, For Up To $580M
Summary
Temenos is to buy Kony for an enterprise value of $559m and an earn-out of $21m, to be funded through cash and debt, subject to regulatory approvals. The acquisition enhances Temenos’ scale and capabilities in the US, adds significant digital expertise and accelerates Temenos Infinity, the company’s digital front office product covering all banking verticals offering customer acquisition and onboarding, omnichannel banking, customer retention and marketing, and modules supporting payments, wealth advisor, financial crime, risk and compliance and analytics, which has over 500 banking clients. Led by Thomas E. Hogan, Chairman and Chief Executive Officer, Kony is a provider of digital experience development platforms. This include: – Kony Quantum, which is a low-code app development platform that delivers rich digital experiences. Thomas E. Hogan, Chairman and CEO of Kony, will become President of Temenos North America and join Temenos’ Executive Committee, effective on the acquisition closing date.
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