Temenos Executes Sale of Multifonds to Montagu
Deal News | Feb 06, 2025 | Legal Community Swiss
Homburger, a leading law firm based in Zurich, has successfully advised Temenos, a Geneva-based enterprise software provider for the global banking sector, on the sale of its subsidiary platform, Multifonds, to Montagu Private Equity. The transaction involved an enterprise value of approximately USD 400 million, including an earn-out. Multifonds is renowned for its sophisticated fund accounting and investor servicing solutions, managing over 30,000 funds across 35 jurisdictions. This strategic divestment aligns with Temenos' focus on its core banking software business. Leading the advisory team from Homburger were Corporate and M&A partners Dieter Gericke and Daniel Husermann, with support from a specialized team of associates and partners across various departments including IP/IT, technology, and tax.
Sectors
- Software Industry
- Private Equity
- Legal Services
Geography
- Switzerland – Both Temenos and Homburger are headquartered in Switzerland, making it the primary geographical context for the transaction.
- United Kingdom – Montagu Private Equity, based in the UK, is the acquiring firm in this transaction.
Industry
- Software Industry – The transaction involves Temenos, a global software provider, and its platform Multifonds, which offers enterprise software solutions for the banking sector.
- Private Equity – Montagu Private Equity, a mid-market private equity firm, is the acquirer in the transaction involving the sale of Multifonds.
- Legal Services – Homburger, a law firm, played a crucial role in advising Temenos on the sale of Multifonds.
Financials
- USD 400 million – The total enterprise value of the Multifonds sale, including an earn-out.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Temenos | Selling Company | Company | A Geneva-based global provider of banking software solutions. |
| Multifonds | Target company | Company | A platform offering fund accounting and investor servicing, sold to Montagu. |
| Montagu Private Equity | Bidding Company | Company | A mid-market private equity firm acquiring Multifonds. |
| Homburger | Legal Advisor | Company | A Zurich-based law firm advising on corporate and M&A matters for Temenos. |